Nifty 50 IndexUpdated Nifty - Friday
Nifty opened at 17322, and took support at 17265 levels.
If Nifty falls below 17265, you can short for a target of 17220, and if that level is broken, then 17167.
Go Long above 17328/17330. Targets mentioned. 17357, 17382, 17422.
Nifty may see 17500 levels soon, but that will be in next week.
For today, I suspect nifty to move sideways in the range 17200 - 17330 for most of the day, with a very rare chance of falling below 17200 to take support from 17165-17170 zone.
Good Luck.
These are my views and not a recommendation. Trade as per your judgement, and keep a stop loss.
If Nifty falls below 17265, you can short for a target of 17220, and if that level is broken, then 17167.
Go Long above 17328/17330. Targets mentioned. 17357, 17382, 17422.
Nifty may see 17500 levels soon, but that will be in next week.
For today, I suspect nifty to move sideways in the range 17200 - 17330 for most of the day, with a very rare chance of falling below 17200 to take support from 17165-17170 zone.
Good Luck.
These are my views and not a recommendation. Trade as per your judgement, and keep a stop loss.
Note
Plan worked well.But I didn't expect Nifty closing below 17200. And this may change plans for next week.
I had a positive bias in the morning looking at the opening, but I'm less sure about it with what happened in the last 2 hours. A major time frame candle (preferably 2 Hr) should close above 17330-17340 for Nifty to touch 17500.
Otherwise, we may see 17000 level again next week.
Feel free to post your comments/views
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