Well its quite premature to call these lvls (5030) as grand but instincts and calculations still convince me that there got to be major moves from these lvls, only thing is that I don't know the direction of the flow.
See the above chart price action was almost exactly as expected from a decent resistance/support. Today we got tailed kiss to the resistance lvls and we managed to close 20 points in the ending, but catch is that adjusted close moved nifty to 5020 and at the time of writing this post still no solid signs anywhere to confirm any big grand move. Only reason which I can put in mind is some unwinding of positions which may result in some snowball effect. Anyways it will be interesting to watch price action in the coming days.
Till then.....Happy trading!!!
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