Yesterday market got hammered.Falling wedge pattern is seen on Intraday chart in Nifty Future.So do not short at lower level.Technically we should have a bounce from the current level.It is a pullback only.
Resistance : 3927 / 3953 / 4005 / 4065
Support exists at 3805.If todays close is below 3800 then it will move further down to 3692 / 3595 / 3500.The ultimate target may be around 3100 - 3150 in Nifty Future.
But there is a saying that bear market does not have supports and a bull markets does not have resistances.Now a days market is proving it.
No good news around to move the market up:
Political uncertainity , Crude price is going on increasing , CRR hike.
Wednesday, July 2, 2008
# NIFTY FUTURE for 02/7/2008
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