See some more downside: Prakash Gaba
The crucial support for the Nifty is at 9049-9000 and the resistance is at 9150-9218, says Technical Analyst, Prakash Gaba.
Technical Analyst, Prakash Gaba:
Nifty (9127): We said ‘in the process generating a pattern that say short today and cover on day three, incidentally 9218 is a stiff resistance to deal with’. The Nifty traded lower as expected and has closed in the red.
Technically we can still see some more downside and pattern wise shorts could be covered now in the lower regions perhaps near 9049, resistance is near 9150 zones.