Sunday, April 9, 2017

#NIFTY Weekend View on the 9th of April.

Last week we saw that the Index was moving up without much effort and without conviction with supply staying out.  Finally on Friday who saw demand vanishing and supply step in.  However the volume remained low which shows the supply was not really dominating. 9220 still remains intact. We may see further dip before another attempt at 9220 is made.  Significant levels are 9175, the last acceptable price level, and 9108, the last supported price level.  9175 also happens to be the 38.2% retracement level. We can expect support coming around this level.


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