Yesterday, Nifty made a smart move rising to 5341, just 14 points away from my prediction 5355 level made on 21 April.
The high food inflation level (17.65%) announced by the govt. took the market by unpleasant surprise as food inflation was on a slow fall and market was expecting a decline rather than a sharp rise. The result was a massive sell-off that saw Nifty crashing by 100 points.
This morning, the sharp early rise led to a jump back of price up to the Last level according to my PRISM system.
The traders made a neat 25/30 points.
The traders made a neat 25/30 points.
Later, the sell came at 5303 and despite getting support at the Bull level for sometime, fell to Golden level, giving another 35 pt down move.
As I write the blog, Nifty has crossed the Bear level and looking at some up move as targets shown on the chart.
Will be off now as I have to travel now.
As I write the blog, Nifty has crossed the Bear level and looking at some up move as targets shown on the chart.
Will be off now as I have to travel now.
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