As discussed earlier before any major correction nifty gonna move northward in previous post at 9525
also as discussed 22 years data suggested in july nifty has never given a single negative monthly close in last 22 years and hence it seems 2017 july also gonna close on a healthy positive note.
prntscr.com/fz9vki
also our nifty outlook posted earlier
nifty is near psychological barrier of 10k
Now going forward-
The weekly price action formed a Hanging Man candle with a long lower shadow indicating supportive efforts after intra week decline, which was mainly triggered by fall in ITC.
on daily chart if 9930 is broken we can see fast move towards 10000/10044.
also channel resistance at 10040 level
STRATEGY :
buy above 9930 for 10040 ( expecting expiry on positive note)
or buy on dip with sl of 9825 for 10040
trade valid till july expiry
* any negative weekly close suggest a correction for coming weeks.
prntscr.com/fz9vki
also our nifty outlook posted earlier
Now going forward-
The weekly price action formed a Hanging Man candle with a long lower shadow indicating supportive efforts after intra week decline, which was mainly triggered by fall in ITC.
on daily chart if 9930 is broken we can see fast move towards 10000/10044.
STRATEGY :
buy above 9930 for 10040 ( expecting expiry on positive note)
or buy on dip with sl of 9825 for 10040
trade valid till july expiry
* any negative weekly close suggest a correction for coming weeks.
Comment:
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” – Peter Lynch
Comment:
10000 hit
Trade closed: target reached
KA