Game Plan follows ...
What happened ?
# Bears made a comeback, is that solid enough ? nope . Final minute selling without conviction.
# No value Migration Downside.
# 6055 gave a splendid support with quick price rejection.
# Good range extension towards downside.
# Value still maintaining upside.
What likely ?
# Bulls could eye for 6103 on futures
# 6040 level wont be breached so ease
# Initial resistance @ 6078
# Nifty likely to distribute in 6078 - 6103 zone for the day.
# Fail to cross 6078 will make trade in tight zone 6050 - 6080
# Higher chance for price to probe higher.
# Wild swings.
Pre Open Take :
Aggressive longs near 6070 Stop @ 6040 look for 6100/6108 #Opentrade
Key Reference Level :
6078/ 6092 #VP
6079/6071 #CVN
Happy trading !!
Regards
Jay
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