NIFTY TESTED THE CRITICAL 61.8% AROUND 6181 AS WAS MENTIONED YESTERDAY & HAVING CLOSED AROUND THE LOW OF THE DAY ON WEDNESDAY, STILL LOOKS VERY WEAK. SO FOR INTRADAY TRADING PURPOSE IN CASE SPOT NIFTY DOES NOT SHOW A BOUNCE THEN JUST CLOSE THE EYES AND BOLDLY SHORT FOR VERY GOOD GAINS. EVEN IF THERE IS A DECEPTIVE RISE, AS LONG AS SPOT NIFTY FAILS TO SUSTAIN ABOVE 6212 KEEP ON HOLDING THE SHORTS WITH STOP LOSS ABOVE 6212 TO 6220 SPOT ZONE TO REVERSE FOR TRADING LONG ABOVE 6212 TO 6220 SPOT ZONE.
IN CASE SPOT NIFTY FAILS TO STAY ABOVE 6212 TO 6220 ZONE, FURTHER SLIDE MAY BE EXPECTED TO BREACH THURSDAY’S LOWS OF 6180 TO SLIDE TOWARDS 6160 FOLLOWED BY 6144 OR EVEN BEAR PRESSURE CAN TAKE IT FURTHER DOWN TOWARDS 6116 SPOT LEVELS. HOWEVER IF THURSDAY’S LOWS OF 6180 HOLDS AND SPOT NIFTY SUSTAINS ABOVE 6212 TO 6220 THEN EXPECT HIGHER LEVELS OF 6225 FOLLOWED BY 6255 TO EYE TOWARDS 6300 WHICH ALMOST LOOKS IMPOSSIBLE ON FRIDAY, MAY BE IT CAN HAPPEN NEXT WEEK.
IN CASE SPOT NIFTY FAILS TO STAY ABOVE 6212 TO 6220 ZONE, FURTHER SLIDE MAY BE EXPECTED TO BREACH THURSDAY’S LOWS OF 6180 TO SLIDE TOWARDS 6160 FOLLOWED BY 6144 OR EVEN BEAR PRESSURE CAN TAKE IT FURTHER DOWN TOWARDS 6116 SPOT LEVELS. HOWEVER IF THURSDAY’S LOWS OF 6180 HOLDS AND SPOT NIFTY SUSTAINS ABOVE 6212 TO 6220 THEN EXPECT HIGHER LEVELS OF 6225 FOLLOWED BY 6255 TO EYE TOWARDS 6300 WHICH ALMOST LOOKS IMPOSSIBLE ON FRIDAY, MAY BE IT CAN HAPPEN NEXT WEEK.
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