Nifty breaks out - 16500 in sight - Long for short term

Nifty has broken out above 16000. Good volumes and price action with the move and moved above 16100 without any signs of weakness. Expect market to touch 16500 very quickly in the short term. First target will be 16250. Positionally longs can have a SL on close below 15970.

Trade active:

Reached T1 within a single trading session. Expect a pause on Thursday expiry day, before resuming action on the trend.




** Important Note - This post is my own study of the mentioned scrip and the views are given with reservation that they may prove to be wrong. I am not a SEBI registered analyst. Please consult your investment advisor before making financial investments.

Trade closed: target reached