Nifty opened sharply lower and went down till 5215 before recovering to 5234. However, only above 5249 Nifty will be bullish again with immeditae tyargets at 5264, 5289, 5296 and eventually, 5355.
Downside, 5165 is still a valid target as unfinished retracement. Which one will come first, the up move or the down move will be revealed in next 2/3 days I think.
Present scenario: A break above 5235 will be temporarily bullish and I would normally expect Nify to break above 5250.
The Intraday level which is crusial is now 5222 (+/- 2 points). Below that, the awaited Nifty down move will be realised.
The Intraday level which is crusial is now 5222 (+/- 2 points). Below that, the awaited Nifty down move will be realised.
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