NIFTY - Daily [Last Updated - 05th May, 2016] :- Index has managed to Close & Hold above its near Support Region of 7700/- which if Hold can see some upside, but its NOT a BUY @ current level. On other hand if the Level is Breached as per Closing basis, Index can further test upto 7500/- Also, a building Right Shoulder with Neckline at 7980/- level can be seen which shall be confirmed with Volume Activity as Chart Moves on for a Head & Shoulder Bottom Pattern. Other Major Areas of Support & Resistances are clearly mentioned as per Fibonacci Price Retracement in Chart.
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