It’s been a month & stock market are trading in Range, and testing the Patience of both Buyers & Sellers. If we see the Stock Market is giving the chance to both Buyers & Sellers to sit for the next roller coaster action.
During analysis we found at present Nifty is approaching initial important support area.
Which lies at the 11520-11495 Range, this Support area can again give Energy to Bulls for further rise.
If Bulls failed to hold the Range of 11520-11495, then further decline is possible for 150-250 pts.
It’s essential to note here 11520-11495 is only initial Support area, not the major one. 11050-11000 range is the major area of Support for Bulls, but it’s quite far at present. It’s good to make a note of essential levels before the result declaration.
In the last post, we discussed. Resistance level is 11150; above that, bulls can gain strength for the move towards 11180/11220/11300 levels. On the lower