Nifty Analysis and Prediction

As expected nifty opened gap up and sustained till mid noon but Sudden sell off came may be due to FIIs bulk selling,

Good part immediately buying came at lower levels in fact in previous analysis we told this is a buy on dips market until downside 15460 is protected.

And Major resistance shifted from 15900 to 15800 there is a huge writing at 15800 it means option writers believing that nifty will not cross 15800.

Nifty formed a Descending Triangle pattern if broken downside 15635 level severe selling will come or if broken trend line than bull run will continue but for next one week better to book small small profits and better don’t wait for final targets.

Immediate Support at
15680

Next Support at
15600

Immediate Resistance at
15750

Next Resistance at
15836