Boult2100

Nifty - On the verge of breakout!

Long
NSE:NIFTY   Nifty 50 Index
3
Closing above 8460, Nifty will race towards 8600. Breakout seems imminent in a day or two as Nifty gave a very shallow correction till 8330 and didn't even make double bottom there. Go long only above 8460 or any dip towards 8350-70.

Dollar index falling below 100 augurs well for EM equities. Early signs of long positions by FII's.
Comment: As expected, Nifty has broken out with tremendous force 8510 - 8600 likely. I wrote this when Nifty was at 8430. Enjoy the profits. Carry long positions home.
Comment: Nifty will gap up tomorrow.
Comment: Booked partial profits at 8510. This 8500-8600 is a heavy supply zone for large players. This is a strong hurdle which might not get crossed atleast till budget. Lots of volatility might happen in this zone.
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