Support at 9000    (22 May 2020)

Support at 9000    (22 May 2020)
Resistance 1 :  9120           Resistance 2 : 9200
Support 1  :      9040           Support 2:        9000
 
Nifty yesterday closed steady with gain of 37 points.
But Market reacted from higher levels.
A reaction at opening is expected due to global trends.
Nifty in a reaction, then intra-day support below is at 9040.
In-case of a trading below 9040, then it indicates a further weakness.
 
Then the next major support below is at 9000.
On closing basis , market has to close strong above 9000, for a positive trend.
 
In-case of a positive trend, then next intraday resistance above is at 9120.
Market has to sustain above 9120 for a further uptrend.
 
 
Then the next resistance above is at 9200.
 
- V. Sundar  Raja, Research Analyst