Short term uptrend continues , still no signs of topping formation.
Immediate support is at 9670 -55, today's intraday rise was a sort of grinding up move, hence good chances we get a dip to 9670 tomorrow. traders can use this dip to buy for 80-100 pt rise only.
Remember we are in 9th day of the up move from 9448. Rise could last for couple of days and then a sideways phase likely to begin.
Break and close below blue trend line, should be confirmation that a short term top is in place and a corrective sideways phase has started which should last for 5-8 days
Immediate support is at 9670 -55, today's intraday rise was a sort of grinding up move, hence good chances we get a dip to 9670 tomorrow. traders can use this dip to buy for 80-100 pt rise only.
Remember we are in 9th day of the up move from 9448. Rise could last for couple of days and then a sideways phase likely to begin.
Break and close below blue trend line, should be confirmation that a short term top is in place and a corrective sideways phase has started which should last for 5-8 days
Comment:
NIfty didnt behave as expected ...its not showing corrective + motive structure internally ...tough to trade