On 16November, Nifty is having resistance at 6155 level, if Nifty fut manages to sustain above this level, then we can see Nifty again marching up to higher levels of 6172-6190-6228. On the contrary to upside, on downside Nifty fut have support at 6090, if it sustains below this level then we can see Nifty sliding down to 6060-6035-6020 levels. In current scenario bulls are having an upper hand till Nifty fut is sustaining above 6060, so at any lower levels traders must use the lower side for accumulation instead of creating short positions. We have told to buy on dips in our weekly view also, and those who followed that yesterday , minted huge money from share market. However breaking the last support of 6020, Nifty can see fresh selling pressure coming in. In the current markets one must be trading with the levels, and not the sentiments, as market is highly volatile and make traders hit stop loss on both longs and shorts. So, always try to follow the levels and trade accordingly with your own wisdom.
We recommend all traders to keep a watch on immediate range 6060-6190 (& a broader range of 6020-6360 for short term). This range will be crucial for today, and break over of this range will show the direction for further movement of markets. Once again we are warning all traders, not to speculate and leverage positions blindly without knowing the direction of markets, as that can make losses on both sides (up-down) of markets. All members are requested to trade with cautiousness and hedge their portfolio properly. Read the facts provided for knowledge & use your own wisdom to trade in this market .
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