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NIFTY: The Trend Deciding Point Works Out At 8739 Mark

ByeForex Trader
Published 02/05/2015, 12:30 AM
Updated 07/09/2023, 06:31 AM

For Thursday, February 5, 2015, the trend deciding point for the day works out at 8739 mark. Since this level is very near to the recent close of 8757, there are chances that this level could be breached. If this level is breached, then Nifty is expected to move towards support zone of 8671 mark. But this is possible only if there is a sharp down move. On ascent, the level of 8808, the first weekly support, which should now act as a resistance, is the first objective. In case of a sharp up move, the crossover of this resistance is to take Nifty to the next level of hurdle, which emerges at 8877 mark. The intermediate resistance stands at 8780 mark. If there is not much demand, then Nifty can reverse from here instead of 8808 mark. On the other hand, the intermediate support stands at 8723 mark. If there is not much supply, then Nifty can reverse from here for upside, instead of 8671 mark.

Latest comments

What ever so good
What ever so good
what will tomorrow nifty target upside or Downside
is expected 100%
nifty
6626 call the bottom
nifty updet 15850 se
hey check this news belongs to 2015
No that point is 7887
nifty predicted I think cross new high in September
91000
khotu
A retracement of 50% is likely to happen on the lower side or a 2nd corrective, which is 10700. But market seems to move higher in coming days as per Elliot wave. 11232 is the sl for target 10700
I expect nifty closing 8800at expiry.operators are comfortable in trading between a range and making profits.its a just buying and selling in huge volumes.no fundamental investment or exit
you. are right sir
2020 here again
And it's Feb 5th again today however 2019. yet 8739 is possible ;)
Nifty
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