As said in previous analysis , Entry in Nifty depends on break above or below triangle pattern, where resistance line is also placed.Today long entry-level was well above triangle and resistance line, but nifty had given only 50 points move above triangle. Hence it was not worth going long at this point of time. Nifty also had not showed proper trend reversal on long as today Nifty had made graveyard stone pattern which is formed at end or beginning of rally but confirmation is required.
Conclusion
Buy above today's high ie 19550 and sell below today's low ie 19435
Conclusion
Buy above today's high ie 19550 and sell below today's low ie 19435
Trade active:
As said to execute long on breach of yesterday high. which is triggered. Long position can b initiated with SL loss @ 19380 and 19200. Trade below 19150 will take nifty to 18700.. Close above 19600 wil take nifty bank to 20000.
