When market makes new highs, we all speaks about fresh new targets and when news destroys the upper trend, we all start searching the point at which indices will going to be supported .As you may have noticed my repeated warnings to avoid fresh entries at the levels of 5250.00 and above wont worked and friends were trapped , You may see my each and every prediction was proved with the time .My advice to sell at highs and enter at lows is best suited to a common middle men to protect their hard earned money .
The technical supports at 5250.00, 5180.00 were broken and presently nifty got supported above 5040.00.
The question is… Will it be able to sustain on it ?
As per chart I have marked pros and cons but if this will be broken then the next near term support is seen on chart is 4820.00.
So you are still advised to stay away from fresh buying because if market will get supported here then it will consolidate for a considerable period .And if bounced back then we are here to inform you but grim chances of bounce back are there .
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