Monday, April 17, 2017

Nifty View - Markets may continue to consolidate

Last week we had hinted at possible correction in Nifty. Important levels given last week were 9160 and 9133. You can see from Nifty chart, that Nifty tried to move up a bit from support at 9160. The level finally broken. Currently Nifty is trading near our next support 9133. This support is a range from 9133-9110. I feel Nifty has good support at this level. Holding this level is important for bulls. Lets hope that some demand will be created at this level and help markets pull up.
If Nifty breaks below 9110 it may undergo substantial correction of another 75-100 points