Nifty (6084.00, +21.30, +0.35%)
The bulls are still indecisive as shown by the dragonfly doji candlestick pattern on the end-of-day chart of the Nifty. Today, the range between 6064 and 6091 would be quite crucial since staying above this range on a sustained basis would indicate bullishness while any decisive fall below 6064 would signify fresh bearishness setting in. However, the next strong supply zone between 6119 and 6153 would be another hurdle that the bulls would need to overcome. Chances are we would see a lower close today despite a probable higher opening around 6090.
Most critical levels for the day: 6063 – 6091, its immediate resistance as well
Strong resistance: 6119 – 6153
Major resistance: 6192
Strong support: 6030 – 6018
Major support: 6003 – 5980
The bulls are still indecisive as shown by the dragonfly doji candlestick pattern on the end-of-day chart of the Nifty. Today, the range between 6064 and 6091 would be quite crucial since staying above this range on a sustained basis would indicate bullishness while any decisive fall below 6064 would signify fresh bearishness setting in. However, the next strong supply zone between 6119 and 6153 would be another hurdle that the bulls would need to overcome. Chances are we would see a lower close today despite a probable higher opening around 6090.
Most critical levels for the day: 6063 – 6091, its immediate resistance as well
Strong resistance: 6119 – 6153
Major resistance: 6192
Strong support: 6030 – 6018
Major support: 6003 – 5980
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