There is high possibility of a bounce from current levels or from around 9660 level,but weekly structure is extremly bearish like a marubozu candle which suggest a trend reversal.
lets analyse chart one by one
1. daily
on daily chart we saw a inverted doji hammer which suggest a bounce from current levels in which we can see a bounce till 9910,9964 .
so on basis of daily chart our trade should be buy setup with sl of 9680.
2. weekly
first of all on weekly chart we can see trendline has been broken for which idea was published
now how shorts can be traded ?
if after bounce till 9910 we come back again below 9810 short nifty with 9920 sl
Another case what if nifty doesnt bounce and open below 9720 then guys short with sl of 9750 as we r gonna see intense fall for which first target will be 9450. breaking that can take nifty to 9000 levels
summing up all
BUY WITH SL OF 9680 FOR 9825 as 1st target ,9910 -2nd target( keep trailing sl as price moves up)
Sell on bounce with sl of 10000( favourable sell level is near 9820-9900 )
close sell if goes above 10k mark
At the end For Investors
use falls to accumulate good quality stocks or Index Etf for 2-3 years horizon as mother of all bull cycle is ahead , more imporatntly no one knows exactly from what level bounce will come so use fall to accumulate
most important PE RANGE has BEEN SHIFTED 15 TO 30 (earlier 12.5 TO 25)
lets analyse chart one by one
1. daily
so on basis of daily chart our trade should be buy setup with sl of 9680.
2. weekly
if after bounce till 9910 we come back again below 9810 short nifty with 9920 sl
Another case what if nifty doesnt bounce and open below 9720 then guys short with sl of 9750 as we r gonna see intense fall for which first target will be 9450. breaking that can take nifty to 9000 levels
BUY WITH SL OF 9680 FOR 9825 as 1st target ,9910 -2nd target( keep trailing sl as price moves up)
Sell on bounce with sl of 10000( favourable sell level is near 9820-9900 )
close sell if goes above 10k mark
At the end For Investors
use falls to accumulate good quality stocks or Index Etf for 2-3 years horizon as mother of all bull cycle is ahead , more imporatntly no one knows exactly from what level bounce will come so use fall to accumulate
most important PE RANGE has BEEN SHIFTED 15 TO 30 (earlier 12.5 TO 25)
KA