NIFTY VIEW AS ON 4 APR 2021
Nifty has formed sort of triple top on a 5 min chart at 14865-14875 zone. This zone is also our resistance zone where we expect should not break decisively. If it does then our view on NIFTY retracing back to 14060 level will become obsolete for time being.
The correction that we expect upto 14060 will be delayed and meanwhile NIFTY might go up if it breaks above 14877 decisively.
Next resistance comes at 15200 and 15400 levels which is also close to ALL TIME HIGH.
If we have decisive breakout from 14877 then our zone of 14060 will come up mean while till NIFTY goes around 15200-15400 zone.
Looking at current SGX NIFTY we might have a gap up open however will it be sustainable only time can tell......
We will update during LIVE MARKET on going changes if any......
However , please note that be stock specific and keep your positions light.
Due to uncompleted work by NIFTY below this move cannot be relied upon totally and one needs to be cautious on every single up move from here on.
Watch out for RELIANCE , BRITANNIA , ALEMBIC PHARMA , ENGINEERS INDIA
Enjoy !!