"Mighty Nifty is green!" by trader vanathi — published 2017-01-05

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Long

Nifty 50 Index (NSE:NIFTY)

NSE:NIFTY Nifty 50 Index

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Nifty has filled its previous the gap. And has been sustaining the important level of 8270. Double bottom of RSI above 50 shows the momentum is gaining. Nifty is buy above the blue trend line . I expect a little pull back tomorrow. Targets are 8303 and 8387. Follow the blue trend line . Happy Trading! https://in.tradingview.com/chart/QtD56IkU/

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Comment: As I expected nifty retraced today. A little pull back.

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Comment: One hr candle's longer upper wick shows nifty is struggling.

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Trade closed: target reached: Thank you My Mighty Nifty!

Comment: This is my "One good trade of this week". My next post is "Trader's queries". I will discuss my errors there along with the question answers.

Simply Superb. But need to wait for 5-6 days to reach the target.

venkaticr

@venkaticr, :)

vanathi

@vanathi, Good forecast. Can we go long with a small hedging, hoping if the market correct on the opening time we will average. What is the Nifty Jan.17 target, > 8600 with minor correction upto 8200?

venkaticr

@venkaticr, It is a minor correction. I expect 8300 within 2 or 3 days and again it will move upside.

Thank you mighty Nifty & skillful Vanathi. Waiting for Next Nifty Idea.

murasolivm

@murasolivm, Thank you for the support.

Amazing.mostly you are using waves and trendlines. i am learning.

bajajct100

@bajajct100, Market moves in patterns and cycles. I am trying to identify the cycle and using trend lines.

vanathi

@vanathi, Currently i have nifty long taken yesterday.i am using psar 30min as sl.you target 8387 is approaching.I am learning with you.

Once again keep it up and confirmed that you are spreading happiness.