9,680 and 9,710 levels will act as key resistance, and supports may be at 9,580 and 9,550.
Even with the underlying trend remaining intact, market remains prone to corrective action.
Measuring tools peg likely Nifty target for the near term at 10,000-10,200 levels.
On Friday, we expect the 9,675 and 9,710 levels to act as immediate resistance for the Nifty.
Market continued to hang in a precarious balance and has been trying to avoid correction.
Pattern analysis shows the market is still ruling above the upper trend line.
The lead indicators remain highly overstretched and the Nifty remains overbought.
This is the time to approach the market with extreme caution and exploit all the upward moves.
For the coming week, the 9,690 and 9,780 levels are going to be the likely resistance level.
The 9,650 and 9,680 levels would be immediate resistance for the Nifty50.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon