Nifty likely to test some resistance around 8480/8500

24 thg 6, 2015

Overall Nifty has twice made bottom of 8000 and recovered. Technically chart suggests that price will take some resistance near 8480/8500 and we may see some profit booking. I will suggest that if anyone have long position he should booked it and should wait for some lower levels to re-enter the long position.

Note:
Fib Retrace of 61.80 (Resistance)
Bullish Divergence(Positive)
Big W pattern (Positive)