KumarAbhilash
Short

nifty short term view

NSE:NIFTY   Nifty 50 Index
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on daily chart nifty formed a small head and shoulder pattern ,whose targets are near 9800 but on weekly charts we have trendline supprt at 9840

so we may find support in the range of 9800-9840 levels and before that we have immediate support of 9920
so summing up all
sell nifty at bounce near 10000 level cmp 9977 which we may see on next trading session and use sl of 10060 for targets 9920 , 9840- 9800.
Comment: the sell out was lead by banknifty after rbi monetary policy , we saw a doji on bnf on weekly charts whose lows are 24698, going below that banknifty should test trendline i.e 24200
Comment:
heading 9820
Comment:
Trade closed manually
Comment: its better to book profit in safe zone as i expect a bounce back from these levels
To what level are you expecting the bounce back 9920-40 or more?
Reply
yes only few points left :-)
Reply
@hotpot64, i booked all and bought bnf at 24300 sl 24220
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