As mentioned in the last index update. Nifty has rushed into a resistance area. The index didn’t manage to move up the zone and tumbled from the resistance.
Now Nifty is expected to correct and find support at 10280 and 10200 levels. Beyond this aggressive selling may take place in the index pushing to 10155. Creating long positions are not recommended. Shorts can be part booked at 10280 and trailed henceforth.
Bharat Jhunjhunwala MFTA, CMT, CFTe, MSTA