IMPORTANT NIFTY LEVELS WATCH FOR 10/05/2016

Important Nifty levels watch for 10 May 2016 –

Support 1 (S1) –7850

Support 2 (S2) – 7810 to 7820

Support 3 (S3) – 7760

Resistance 1 (R1) –7890

Resistance 2 (R2) – 7950

Resistance 3(R3) – 7980 to 7990

Nifty will be strong above 7850 for the target of  7890-7950-7980.

Nifty will be weak  below 7810 for the target of 7760.

Closing of Nifty above the hammer, doji  (in daily chart) and above 7800 today,  indicates the end of bearish pullback/correction and uptrend should resume from here. Now Nifty would go up and try to retest the last swing high at 7990.

Any decline up to or near 7820 should be a buying opportunity for the target of 7950 -7980

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