SUP. ZONE - 5020 TO 5040
RES. ZONE - 5177 , 5197, 5217
50% retracement of 5702 to 4720 fall comes @ 5211.
For the day & for the week, 5177 to 5230 range becomes huge resistances.
Weakness would be evident at the break of 5140(Day Pivot) & 5125(Volatility Sell) & 5100(Yesterday's low). Developing week Pivot is another point of contention on the lower side.
Closing of Nify SPOT below 5085 ll lead more downside to 5020 to 5040 support zone.
We need to see next week action either breakout of 5230 (and fill gap of 5230 to 5330) or breakdown of 5040 level.
RES. ZONE - 5177 , 5197, 5217
50% retracement of 5702 to 4720 fall comes @ 5211.
For the day & for the week, 5177 to 5230 range becomes huge resistances.
Weakness would be evident at the break of 5140(Day Pivot) & 5125(Volatility Sell) & 5100(Yesterday's low). Developing week Pivot is another point of contention on the lower side.
Closing of Nify SPOT below 5085 ll lead more downside to 5020 to 5040 support zone.
We need to see next week action either breakout of 5230 (and fill gap of 5230 to 5330) or breakdown of 5040 level.
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