Nifty should have solid support at 8469 zone which is strong demand zone as of now
An unfilled Gap of 8421-8444 zone will keep the bears hope alive whereas Bulls aretargetting 8589 and 8644 level...further 8725-8744-8789 and 8844 level
Punters playing their game and will make sure that bears will get trapped this time also ...since there is no rate cut..there is strong possiblity that they play against the sentiments and take nifty to higher level
However the worrying factor is PE level 24 for nifty and it seems big money is taking every oportunity to offload their equity to retailers and a day will come when certain news will come wherein a big red candle can come ..and people will start dreaming again of 8000 level.
LEts wait for clear signal for BEARS.
An unfilled Gap of 8421-8444 zone will keep the bears hope alive whereas Bulls aretargetting 8589 and 8644 level...further 8725-8744-8789 and 8844 level
Punters playing their game and will make sure that bears will get trapped this time also ...since there is no rate cut..there is strong possiblity that they play against the sentiments and take nifty to higher level
However the worrying factor is PE level 24 for nifty and it seems big money is taking every oportunity to offload their equity to retailers and a day will come when certain news will come wherein a big red candle can come ..and people will start dreaming again of 8000 level.
LEts wait for clear signal for BEARS.
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