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Today's market report by CapitalVia
In last rading session a \"doji\" was formed on daily japanese candle stick charts there by suggesting market is indecisive and consolidating . A doji is said to occur that nifty opening and closing price are same.
In last rading session a "doji" was formed on daily japanese candle stick charts there by suggesting market is indecisive and consolidating . A doji is said to occur that nifty opening and closing price are same. It suggest that bulls and bears are at the same power, and are at equliilibrium. As doji is formed at important resistance level of 7600, but still confirmation is needed tommorow to close below today's closing. All these factors are supporting bear case for next couple of trading sessions. Further weakness will be confirmed if Nifty consistently trades below 7400 and closed below it. In such a scenario immediate target can be expected in the zone of 7350-7300.
Support:-7400,7360,7230
Resistance:-7600,7630, 7650
By - Vivek Gupta, CMT - Director Research, CapitalVia Global Research Ltd.
