Nifty - Pre Exit Poll Outlook: Bulls Above 22,400

31 May

Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.

WaveTalks - Market Whispers: Can you hear them?

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Key Levels to Watch:

- Immediate Resistance: 23,000

What Unfolded Last Week:

The index retraced 600 points, making a low of 22,417 as expected pause below 23000 in the last idea.

Last Idea - Nifty Explosive (Part 3): From 22,000 to 23,000 in Record Time!

Future Expectations:

If Nifty surpasses the 23,000 mark, it will confirm that the bulls are in charge, reflecting the market optimism seen since early 2014.

Nifty has strong support in the 22,400-22,500 zone. Holding above this zone, we expect an upward move towards the 22,775-22,825 target zone. If it holds above 22,825, it can target 23,000. Beyond 23,000, bulls will take charge, potentially driving the index to 23,500 and later 24,500.

Note:
Strictly no trades below 22,400.

From WaveTalks
Abhishek