In last post we have showed hooking of CCI when nifty was trading above 2900 and mentioned that below 2830 nifty will face selling pressure on every rise .
LATTEST NIFTY VIEW : As above charts shows thats nifty is trading in small range and trying to consolidate before taking any further voilent move . Some of indicators like elliot trigger is near zero line and cci hooking again .
BULLS WILL BE SAFE IF NIFTY TRADES ABOVE 2753 AND BREAKOUT 2828 LEVELS NOW FOR BREAK OUT FOR AT LEAST NEXT 200 POINT MOVE ON UPSIDE .So I would suggest bulls to wait for breakout .
BEARS are safe as long as Nifty trades below 2784( this level derived from intraday chart of nifty ).
MAJOR SUPPORTS FOR NIFTY SPOT : 2700 ,2660, 2628
MAJOR RESISTANCE FOR NIFTY SPOT :2753,2784,2828.
HAVE A NICE TRADING DAY !!
Regards
NIFTYTRENDS TEAM
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