Nifty Update

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