Nifty Hourly
Nifty has broken its 5250-5330 range and What a move.Breakout moves takes everyone by surprise and when the whole world is bearish.
The most part of trading is applying your trading discipline and controlling your emotions.As a trader you should change your color as soon as market changes the Color.
Market is a Beast and if you fight with beast its you who will be hurted.
Nifty Daily
Next level of Resistance comes @5522.Now the real test of FII buying will come to test once market starts coming above 5520-5610 range. If this range is again not crossed market will fall again.
If this range of 5520-5600 is again not crossed market will fall again. 5610 is the real test of Bulls. Being an Expiry week and lot of Shorts in system if bulls are able to hold above 5454 for 2 days we can see a Bullish expiry above 5600 as short covering only will take market to higher levels
Nifty Weekly
Weekly trendline also held after a 3% rally on Friday. Bearish possibility are put on hold as of now and Targets of 4800 looks far fetched.
Nifty Monthly
Monthly Trend line also held. It was saved for 5 times and this time also Candles again moved above trendline.
Levels to Watch
Trend Deciding Level:5518
Resistance:5555,5610 and 5662
Support:5456,5382,5330
STAY DISCIPLINED!!