After almost 700 points correction in the last 7 days, yesterday finally NIFTY bounced back sharply from lower levels and broke the resistance of 14850 on the hourly chart. It ended above 20DEMA, which is placed near the 14900 mark. Now the range of 14750 – 14700 will play an important support for the short term. On the upside NIFTY can test 15127 and above that it can even test its recent swing high of 15430 in the coming days.
|Buy above 15025||14949||15200|
|Sell below 14790||14866||14650|