Nifty: 31st July Session And Preparation For Tomorrow

31 Jul 2017

Today market opened with a gap and faced resistance at 10048 but showed strength and held the first 15 min. low. It then broke out of the resistance, made a new high of 10061, retraced and gave a false beak out of the day's high. After that a tweezer top can be seen along with a bearish pattern which looked like a top for today. But market gave a false breakdown through the support of 10048 and the Doji gave some hope to the bulls. The rest of the session was all bull control and bears covering their shorts.

If bulls take control tomorrow we may test out minor target at 10095 and probably the final target 10114. OR the bears may be aggressive in the morning and we may face some retracement, In that case PRZ are the area (see the chart) to watch out for an upside reversal.

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Trade Safe,Stay Healthy

Best Regards
Bravetotrade

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