Nifty has a resistance @ 5369 & 5618 which are importance Fibonacci levels.
Incidentally @5618 level, Nifty will face resistance of channel upper trend line.
Can ONGC & Reliance take Nifty to this levels? or will it be Metals & IT ?
Trend might change below 4960 & breaking of the lower channel will drag it to 4300.
Again will it be ONGC , Banks & Metals to blame ?
Watch out ONGC & Metals.
Nifty stop loss of 4960 is to be maintained.
please go through the Disclaimer mentioned elsewhere on the blog.
Disclosure : No position in Nifty
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