Nifty Bullish Confused which already Mentioned one day before
Updated
As mentioned in my previous post Nifty Bullish above 10882 which it did informed in my previous post, There is a pending double bottom in Nifty too. Now it is heading in the direction to form a Bearish Butterfly, See the chart for clarity.
For 9th Aug what should be the strategy for Intraday?
Nifty Should Test 11000-11014 Mark. If bearish structure is formed on 11014 - 11000 it further goes down then will test 10962,10929.
If higher high and lower high is seen in 5 min candle stick, in those levels can long for 11114 and
[11160-70 -- > as the Bearish Butterfly entry falls in that area. ]. Can expect a correction which can bring Nifty to 10950 level.
So Nifity can be little bearish in in the morning depends on the above scenario. And Bullish in the Afternoon, and if reaches 11160-70 may fall.
All these are my personal view.
For 9th Aug what should be the strategy for Intraday?
Nifty Should Test 11000-11014 Mark. If bearish structure is formed on 11014 - 11000 it further goes down then will test 10962,10929.
If higher high and lower high is seen in 5 min candle stick, in those levels can long for 11114 and
[11160-70 -- > as the Bearish Butterfly entry falls in that area. ]. Can expect a correction which can bring Nifty to 10950 level.
So Nifity can be little bearish in in the morning depends on the above scenario. And Bullish in the Afternoon, and if reaches 11160-70 may fall.
All these are my personal view.
Trade closed: target reached
Exact movement in Nifty. Cheers!!!
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