Tuesday, April 11, 2017

#NIFTY View on the 11th April.

Today’s move was not an unexpected one. We did anticipate the attempt at 9220 soon. Quoting from yesterday’s post [we can expect Demand to step in the next couple of days and the next attempt to make new high will start]. The index opened near yesterday’s close and quickly moved past the important level of 9220 and stayed above that level for the remaining session absorbing all the supply. The Volume also increased considerably from yesterday’s level. This and the fact that the index held on to the high for most of the session makes the move more authentic.  The volume was not very high either indicating that supply was indeed lukewarm. All this only adds validity to today’s move and augur further upward moves.


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