#NIFTY Spot View: 05/06/2024
CMP: 21884.50
Moving AVG (EMA) 20 Hour & 40 Hour: 22439 & 22585
Moving AVG (EMA) 20 Day & 40 Day: 22558 & 22452
Support & Downside Range: 21725—21659—21615 Zone, 21280—20760--20492
Resistance & Upside Range: 22370—22560--22645
Short Term Trend Reversal Level: -- 22645
Trading View Summary:
• After yesterday's disaster show by Ruling GOVT. in LS Election we saw 10% cut in the index & more then 20% cut in stock specifics.
• Now few days from here on are going to be very crucial to watch. Market needs to hear that NDA is forming GOVT & MODI is once again becoming PM. Once we get this news market will immediate find the stability. Second now market & FII's will wait for the Budget & the new policies by the new GOVT.
• Market will remain under pressure till the time they does not get a clear picture about the GOVT & who is coming as PM of the India. By any chance if any partner of NDA joins the INDIA alliance then market may not like it and we may fall further.
• Once market finds the stability everything goes back to normal and once again market will move with Global Factors & Govt. Policies.
• Now for today's trading session key thing to watch is market breath is oversold so we can expect some bounce back up move. For the same key level to watch is 21725 as support after opening if 21725 manage to hold then market may immediate tries to bounce back and can move upside towards 22370 & above levels.
• Whereas after opening if 21725 fail to hold then market may remain range bound between 22370 to 21280 & below 21280 once again we may see a selling pressure to build in the market.
CMP: 21884.50
Moving AVG (EMA) 20 Hour & 40 Hour: 22439 & 22585
Moving AVG (EMA) 20 Day & 40 Day: 22558 & 22452
Support & Downside Range: 21725—21659—21615 Zone, 21280—20760--20492
Resistance & Upside Range: 22370—22560--22645
Short Term Trend Reversal Level: -- 22645
Trading View Summary:
• After yesterday's disaster show by Ruling GOVT. in LS Election we saw 10% cut in the index & more then 20% cut in stock specifics.
• Now few days from here on are going to be very crucial to watch. Market needs to hear that NDA is forming GOVT & MODI is once again becoming PM. Once we get this news market will immediate find the stability. Second now market & FII's will wait for the Budget & the new policies by the new GOVT.
• Market will remain under pressure till the time they does not get a clear picture about the GOVT & who is coming as PM of the India. By any chance if any partner of NDA joins the INDIA alliance then market may not like it and we may fall further.
• Once market finds the stability everything goes back to normal and once again market will move with Global Factors & Govt. Policies.
• Now for today's trading session key thing to watch is market breath is oversold so we can expect some bounce back up move. For the same key level to watch is 21725 as support after opening if 21725 manage to hold then market may immediate tries to bounce back and can move upside towards 22370 & above levels.
• Whereas after opening if 21725 fail to hold then market may remain range bound between 22370 to 21280 & below 21280 once again we may see a selling pressure to build in the market.
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