One week and Nifty held to its almost 200 point range in anticipation of the election results. Well the most important event of our country has come to an end and now market will look forward to internal and external stimuli for further moves. Nothing much to add so will leave this post with a little brief.
Looking at the weekly chart above we can see that Nifty is above all its three key MA’s and staring right into historical resistance at 3775/3790 which just might be reached tomorrow in yet another GAP UP! Celebrating the clear mandate by the people. 3580/40 remains key short term supports.
Tomorrow is going to be a Day Traders day and that too for nimble fingers. In fact if intraday is not your cup of tea take a break and let the dust settle before taking fresh positions.
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