ankit3000
Long

Nifty-Bulls not ready to give up

NSE:NIFTY   Nifty 50 Index
100 views
3
Nifty showing too much indecisiveness.
7 Dojis can be seen in last 15 trading sessions.
3 hammers indicate bulls are not tired even after a long run.
If recent Swing high and low are connected, we see today's close is at 78.6% Fib Level which is also 20 days SMA .
one can go long here with a stop loss of recent swing low 9560 with open targets
Comment: Today's down move with good volumes confirms downtrend.
Stop loss triggered in this trade.
Upon a bounce, traders may enter fresh shorts around 9570 with SL of 9640
Comment: Those who shorted yesterday around 9570, Carry on the position with SL9640
Comment: There is no sign of major weakness.
Cover the shorts around CMP 9520 and wait for next breakout

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