The downside is well protected by the horizontal level around 177 which can now be expected to act as support again. The major support level around 182 to 177 which was tested as support over the past five months.The major target near 217 in sight with intermediate resistance to be expected around 202. The RSI Momentum line moved below buying zone and MACD is indicating to buy. So according to technical view Buy from 182 to 177 and Selling target will be 202 to 217.
As per our past updated, We have mentioned about Resistance 10947 which here : we had not taken any position over the short selling side. According to our last researched, we are till in patience. Now we’ve found new DURABLE resistance as showed in chart at 11124 near by.
Today, We have seen gap up and Average True Value is also on support. When you see ATR. at support, we found big on nearby. Now Question, What to do! Answer, you have to keep patience OR try to enter into PUT… Which STRIKE Price… 10800/10900.
Nifty is now trading near the resistance and presently all technical indicators are also in positive direction. But we are waiting for selling zone ie. (resistance) 10,915 to 10,930 and support is 10,755 to 10,737.
TATA MOTORS: Till now it is following a down trend cenal and it is on strong support with a little penetration and so buy from 255 to 265 and our target will be as 283 to 291 and if still move up then go for the target 310.
CIPLA: The movement of falling down has been started and traders can sell from 612-619 and target will be 557 – 551 and 518-509.
ACC Future: Traders can think of buying from 1,222 to 1,255 and target will be 1,358-1,400. If go below 1,200 it will increase risk ratio for buyers.