Expiry day – wasn’t it special ????
As in yesterdays post we inform that, major breakout upside to see above 5625 only and nifty open big gap up today on special day, and after a gap up it sustain above this level just see the todays low maintain at 5627 not able to go down below 5625 as it was a major breakout support for the day. after a consolidation for almost half day nifty taken support of trendline point on chart and given a sharp bounce from there. even after moving into oversold zone in RSI nifty not able to show any downtrend on chart today, but at the closing time if we observe closely nifty given a signal of “DIVERGENCE CHANNEL” on chart. so tomorrows move is very interesting as it was not given any indication of buying or selling at end. Signal close on natural point.
View for 28-06-2013
IF OPEN GAP UP – as far as today’s trading concern it was strongly hold by bulls only, but just see divergence in making on chart so any time can happen now, but if able to open gap up tomorrow then major resistance to see is 5710 level, if it sustain upside for 30-40 min and able to break 5710 level and stay above this level for 15 min. then we can see some smart up move till 5735-5755 levels also. down side support to consider at 5765 level, after this we can see 5640-5625-5600 also.
IF OPEN GAP DOWN – If market able to open gap down tomorrow and sustain downside only for 30 min then we need to consider 5665 level very important, if stays below this level for 15 min then we can see 5640-5625-5600 also, for any up move market need to recover and sustain with gains, major resistance can be seen at 5710 level now, above this 5755 also possible.
over all study and view indicating that for market tomorrow 5665 and 5710 looking very important level, and crossing this levels and sustaining for 30 min to hour can give breakout moves to the respective sides.