Intraday Support for the market shall be 5200 & 5158.
While the market will experience resistance at 5300 & 5342.
Best Strategy shall be to:-
Buy above 5272 with Stop Loss of 5239
Sell below 5239 with Stop Loss of 5272
Markets are trading exactly in tune to the prediction made by us in our 25th June’s blog in which we predicted that the markets are likely to slip and may soon slip back to 5000 levels.
5200 has emerged as a support for the markets and it will again be decisive in confirming the trend reversal incase it gets broken on closing basis. We may see the markets to slip to 5000 levels soon if 5200 is broken.
Last month markets surged up to 5350 levels from 4900 mark right after our prediction of positive trend in our 4th June’s blog, as the markets slipped to 4700 from 5200 after our 3rd May’s blog.
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