Dear All,
So, by making a low of 16828 and by ultimately giving us a closing of 16988.40 yesterday, Nifty had once again shown us a bounce back from around the stated level of 16800, i.e., the same level on which a neckline formation is made.
Also, after the two consecutive days of doji formation, yesterday's hammer pattern formation is somehow indicating that Nifty can show us a bounce back from current level.
So as of now, keep following the cherry picking strategy and wait for a closing of above 17180 for any aggressive buying with the stop loss of 16800 on closing basis.
Regards,
Alok Daiya
SEBI Registered Research Analyst
So, by making a low of 16828 and by ultimately giving us a closing of 16988.40 yesterday, Nifty had once again shown us a bounce back from around the stated level of 16800, i.e., the same level on which a neckline formation is made.
Also, after the two consecutive days of doji formation, yesterday's hammer pattern formation is somehow indicating that Nifty can show us a bounce back from current level.
So as of now, keep following the cherry picking strategy and wait for a closing of above 17180 for any aggressive buying with the stop loss of 16800 on closing basis.
Regards,
Alok Daiya
SEBI Registered Research Analyst
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.