Nifty50 has got major support at current level or at yesterdays closing, holding below 10390 we might see fall towards 10336/25. But that looks difficult for nifty to fall towards that levels.
If Nifty holds above 11415, it might start moving upside for the mentioned targets marked w\ green horizontal lines
Targets are --> 10525--> 10625 --> 10700 --> 10780
SL --> 10390
abc correction of wxyxz seems over at the current levels and might start up move, the c of abc has given 61.8% extension, which is fair enough for the halt of down move and 78.6% is at 11336/320 levels which is another major support downside.
If nifty fails to hold current level, and falls below 10390, still selling will be NOT recommended
Regards,
Sharma yogesh
If Nifty holds above 11415, it might start moving upside for the mentioned targets marked w\ green horizontal lines
Targets are --> 10525--> 10625 --> 10700 --> 10780
SL --> 10390
abc correction of wxyxz seems over at the current levels and might start up move, the c of abc has given 61.8% extension, which is fair enough for the halt of down move and 78.6% is at 11336/320 levels which is another major support downside.
If nifty fails to hold current level, and falls below 10390, still selling will be NOT recommended
Regards,
Sharma yogesh
Comment:
idea is to long* and not to short
Comment:
well the series is 11000...and not 10000...some typo error made in this idea, please understand, thank you.
Comment:
update didn't hold , now again close to major support