yeah its a long break. Hope Results are not in favor as told in Previous posts. So now what ? Lets see.
Fundamentally there is no change as of now. Just crude cooling off due to lower demand after OPEC meet. Now real Funda factor for INDIAN markets are Results and RBI meet around May. Until we may witness this kinda Range based trading.
Technically longs are been liquidated @ higher levels. 5700 Psychological level been held. As I am keep saying again & again use these bounces to book your profits. A good breakout above 6k is need for any fresh Bull run. We are witnessing selling @ high and buying @ low happening daily. So a Trigger of a good/bad results & RBI meet outcome will keep a full-stop for this Range activity 5808 is a hurdle as of now. Nifty likely to test 5862 - 5925 in coming days. NIfty future levels to watch for Intraday are 5725/5744/5763. I will be a Buyer @ support zones for my view of 5862 - 5925 in coming days.
Happy trading !!!!!!!!
Jay
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