Yesterday I had mentioned that a Pullback can occur from 5120-10 level. However, under global pressure, NIFTY dropped near to the next minor support level under global pressure. But the inevitable pullback has happened. It is more than likely to continue even tomorrow. The Hammer formation ( NIFTY Spot) is an indication of that. We cannot rule out a possibility of the pull back to touch 5233-77. Of course, it need not happen in a single day. But a breath taking is almost certain.
It is to be noted that, the first support of the “Diamond Top” is met precisely. This also means there is a very high possibility of a strong pull back tomorrow.
Tweets @masterstrokes
