As expected on friday Showed strong resistance at 5120 spend lot of time at this level , sudden jump to 5140 but not crossed this level as chart showed . (Check early post)
What next on nifty now?
Now as per daily chart nifty will start to lose its up move steam in coming days but for that it has to create negative divergence on daily chart, to make this nifty must and should trade above 5170 level then it will come down again . so this week will be deciding week for nifty.
So positional traders don't short nifty keep positive ,the moment it trades above 5170 then take exits on longs and take shorts.
Levels down 5030 and 4975 , levels up as usual 5120 and 5140.
Probability of intraday nifty-
Flat to negative opening,difficult to cross 5120 , end in negative.
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