Nifty delicately placed near Mother line & important trendline.

5 Sep

Nifty which closed at 25145 is delicately placed just above mother line 50 EMA and an important trend line near 25143. Another important support will be today's low that is 25127. Below this level there can be further weakness which can take Nifty to 25083, 25005 and 24875. If major support of 24875 is broken the final support will be near 24776. If 24776 is broken Bears can take over the market. Resistances on the upper side are at 25173, 25208, 25234, 25269. Above 25269 Bulls can take control of the market at take the market to 25304 or even 25337. Right now shadow of the candle is still little negative.