NEWSLETTER
(Satyam Sit)
It touched 4829 (resistance given 4825) before reacting today, and nifty and bank nifty both are nearing bigger resistances. And as budget is in the corner we can expect a bigger move on wither side (technically down from resistances).
Supports: The shorter term impulse and longer term corrective is unchanged till 4960-4985 is crossed. Will be wise to book longs and going short with strict s/l. Day's supports are lying @ 4870/75-4840-4805. Below that resumption of the downtrend is most likely.
Resistances: Same lies @ 4925-4960-4985. These are all positional target of nifty which is partially achieved. Closing of longs would be a better idea. But in case goes above 4985 and sustains, 5050-5080/85 is possible. Be light with your position and experienced trader can look at hedging opportunity because of special event like
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