Dow Jones rallied 300 points! What’s in for Nifty
As mentioned in the last post we were expecting a pull back in Nifty. Now the index is at an important resistance zone 10610. A move past this zone and ability to stay above it will decide the further course of action in the index. 10720 and 10840 are next target zones for the index. However a move below 10430 will be considered as bearish. Longs can be trailed at 10500 levels.
Though there is a RSI negative reversal on Nifty, today’s price action will confirm it.