(continued/updtd from last post)
also i feel spot nifty is oversold and its a matter of time (max 10-15) days that it may begin its pullback toward 5200 lvl if 5080 is crossed. thereon it needs to be seen how it goes.
while the US mkt indices like Dow are likely to witness continuation of profit booking which may lead to good amount of correction and if that happens then nifty's pullback too may be short lived.
the historical spiked spot lows/tgts on Rupee are 55.55 and 57.80 per dollar respectively and there may be an attempt to test these lvls again (before it pullbacks) if there is no intervention by the central bank since now its in a free fall zone say above 54.46.
current near term nifty support is seen near 4790-4800 on spot as seen on eod chart posted previously.
also i feel spot nifty is oversold and its a matter of time (max 10-15) days that it may begin its pullback toward 5200 lvl if 5080 is crossed. thereon it needs to be seen how it goes.
while the US mkt indices like Dow are likely to witness continuation of profit booking which may lead to good amount of correction and if that happens then nifty's pullback too may be short lived.
the historical spiked spot lows/tgts on Rupee are 55.55 and 57.80 per dollar respectively and there may be an attempt to test these lvls again (before it pullbacks) if there is no intervention by the central bank since now its in a free fall zone say above 54.46.
current near term nifty support is seen near 4790-4800 on spot as seen on eod chart posted previously.
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