Nifty daily chart
Nifty has bounced back from 5970 which is an important support level. Now it has reached 6110 which is an important resistance level. If Nifty closes above this level then it can reach 6225. Otherwise it will come down to 5970. To summarize 5970-6110-6225 are the important levels to watch and market can remain in this range for some time. There is also a possibility that Nifty is forming a bearish head and shoulder pattern.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 23-05-13 |
| Initiated at | 5967 |
| Low since change | 5936 |
Thought for the day
Look at a day when you are supremely satisfied at the end.
It’s not a day
when you lounge around doing nothing;
it’s when you’ve had everything to do,
and you’ve done it.
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