Nifty 50 Index
Long
Updated

NIFTY day chart analysis - Bullish view

NIFTY day chart analysis.
Note
Reliance AGM and other macro factors are in alignment with my bullish view. So dips and sideways movement should be utilized to go long.
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Happy independence day :)
As mentioned above "dips and sideways movement should be utilized to go long" in forthcoming trading sessions.
One may focus on instruments like Sep-Oct futures, Nifty ETF, Index heavyweight stocks etc (avoid options)
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Note
SL is 10530
Note
Made a low of 10637 so far
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Today we hand another opportunity to go long,
Note
Taking support at the sliding parallel
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Took a strong bounce exactly at the sliding parallel.
One can buy with SL below 10630
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Please use the dips upto 11100-11050 to accumulate
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Trading within a channel

snapshot
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As mentioned on Sep 25th "Please use the dips upto 11100-11050 to accumulate" maintaining a strict SL below 10630
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Weekly candle showing strength.
More bullish move to follow.
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Note
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Finding resistance at the median line.
Upon a close above the median line we can expect a bigger and stronger bullish move.
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Note
Booking partial profit at 12030+
Note
Booked a partial profit of 1000+ points profit so far
Note
Nifty at support:

Broadening wedge as seen on day chart

snapshot

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