Market Review for 18th June 2015
Nifty (8092) we said ‘technically now it is once again emphasized that 7940 is a very crucial support to work…good as long as that holds…8100 still is stiff resistance to deal with and close above 8100 would be some sign of strength’ the market traded higher and closed in the green as expected after seeing a high at 8137 very close to our resistance of 8141…technically the bar generated for the day is an indecisive bar and if the market moves up then 8164 & even 8196 is a possibility but I would watch the breach 8048 as the first sign of weakness..
The support for Nifty is it 8048-7940-7642 and the resistance to the up move is at 8098-8141-8164-8196
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