In our previous post we had said that Nifty has Support at 5913-5915. This level held good till it broke in the last hour .Nifty closed at 5987.
As of now Nifty is trading very weak with Bearish bias. However a bounce is required from these levels to complete the Wave2 as shown in the pic. Then fall of 200+ points is expected from near 5950. Lets see.
Cheers
TRADE PLAN
Nifty as expected in my previous post gave a bounce till 5969.5
Now if it holds 5913(Fibo) and 5917(Breakout high) then we might visit 5950+ levels again
NIFTY PLAN.
Nifty Has closed below 50Dma for 2 days.
weekly closing at 5903.5 is not a good signal for bulls
Close Below 5980 will take Nifty to 5820/5800
Alternatively Nifty holding 5880 may give a bounce till 5950.
