indiamarketoutlook

Nifty: Chart view

Short
NSE:NIFTY   Nifty 50 Index
Nifty
Closing Price 12352

Last time we had suggested Nifty to climb higher and that's what it precisely did.





Now we are staring at the top end of the channel in Nifty . Keep a close eye...

- we are at the top end of the channel

- on the lower side Nifty can come down towards 12030 / 11866

- Pattern gets invalidated if Nifty closes above 12500

Take care & safe trading...!!!
Comment: NIfty opens @12430 right in the middle of the upper range (12380-12480) mentioned in the chart

And from there on it is down to 12260 for the day... (making a low of 12246 so far)

Those who have followed Technical Analysis and not News have been rewarded handsomely today by selling in to the opening trade...

Consider booking partial profits on the go and revise SL to cost for balance

Enjoy & Happy trading...!!!
Trade closed: target reached:
Target of 12030 almost done. Nifty has made a low of 12087 so far.

50 day EMA is at 12076. It may act as support

Consider booking profits and enjoy...!!!

Happy trading :-)

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