Perfect Breakout with one major hurdle to cross.
It is a perfect breakout as we had predicted yesterday. As we had said you will find Nifty between 19600 and 19700. Nifty today made a high of 19693 and finished strongly at 19675. The next major resistances are at 19693, 19847 and finally 19990 until we are back above 20K levels. The investors should be cautious of 2 things.
1) Rate hike by US Fed in December FOMC.
2) Further major escalation in Israel - Palestine crisis which could make it a Multi-polar fight.
In case of above developments the supports for Nifty will be near 19586, 19456, 19333, 19223 and finally the support zone between 18893 and 18835.
1) Rate hike by US Fed in December FOMC.
2) Further major escalation in Israel - Palestine crisis which could make it a Multi-polar fight.
In case of above developments the supports for Nifty will be near 19586, 19456, 19333, 19223 and finally the support zone between 18893 and 18835.
Happy Candles Investment
