NIFTY TREND SETUP -from past few weeks i am explaining nifty is in a "bullish bias" -to understand please go through my nifty and banknifty posted charts -you will get an idea how we were able to maintain our bullish view -coming to the new post of nifty let see what is cooking up -our rising wedge pattern is confirmed (read previous post) -nifty is making a move to test "61.8% retracement level" -and also its 200-ema both now placed in the zone of 10420-10520 -!!yes!! again i am "bullish" this week -the reason is quite simple i don't know whether someone has noticed!! -that after the gap down on 11th march it is the first time!! -that nifty has mananged to "close above 10175" -!!yes!! nifty everytime gaped up and was sold into -this rally is different after 3 months nifty actually managed to close above the level of 10175 (please watch the "yellow" line closely on the daily chart) -this is a major reason i believe that market can test 10350-10520 beyond that we will need to dig deeper
NIFTY TRADE SCENARIO -any dip towards 10160-10180 is a buying opportunity -intial target should be 10275-10320 -if breaks then we can re-enter aggressively
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