nifty for NSE:NIFTY by kacharts

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Trend Analysis

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trendanalysis

seems strong reversal on charts.. can go long with 10360 sl(buy on dips strategy) for target of 11k

Comment:

Comment: YESTERDAY WE SAW A DIP IN NIFTY till 10456, we used dips to buy nifty

last min selling was a bear trap --
remember its a bull market fall should be used to buy
first hurdle 10600

Comment:

hurdle has been broken successfully cmp nifty cash price 10610( if closes above 10600 ) heading towards 10700-10750(1st gap hurdle)

Trade closed manually: negative breakdown

Comments

day closing update If today close in 10390 - 10410 then 10500 - 10550 very much possible by expiry

I think around 10280 - 10300 it will take support for some pull back.

hotpot64

@hotpot64, took support at 10300 now if today's low is not broken then 10450 - 10470 can be expected before expiry

hotpot64

@hotpot64, will recheck later in the day after closing, I think too much analysis paralysis for the day :-)

10400 - 10600 is the broad range for another couple of sessions, high of 08/02/18 needs to be taken out decisively for up move, which in my personal opinion not easy.

hotpot64

@hotpot64, as per data right now i can say going below 10500 is unlikely however data may change with time but right now i will keep sl of 10500 (future closing) for target of 10700

kacharts

@kacharts, let's see how it unfolds, though bank nifty expiry CE options of 25600 / 700 now at good levels for trade..

hotpot64

@hotpot64, today's expiry

Good Analysis Kumar!

hi Abhilash, thanks for sharing your analysis. can you elaborate what the three zones you drew signify. thanks