The confluence of a multi year channel starting from 2009 lows with linkages to 2003 lows make it an excellent support. I expect this level to be reached by June
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A corrective rally is underway and could top put at 10900 +/- 200 points before December 2018
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Its more than one and half year of wait. We are now 500 points away from it. At the rate at which the markets are going mad, we may see that level in no time
Today we reach the level that got initiated a long time back.
I am tempted to close the trade but shall wait further. Because the reason is it has been swift move to this level. A bounce is due which most likely will be sold into. We shall retest 9000 levels again probably and make a divergence. Thats the time to buy.
If it doesn't make a divergence on RSI etc., 9000 retest will be a support that may get broken and we may proceed in stages to 6000+ on Nifty.
Hope it doesnt happen all the way by Gods grace
Equity-Earningz
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Excellent Analysis Sir. 7 Months is enough time if nifty wants to reach 9100 Because we will have two major even in between one is budget and election results. Anything is Possible.
Today we reach the level that got initiated a long time back.
I am tempted to close the trade but shall wait further. Because the reason is it has been swift move to this level. A bounce is due which most likely will be sold into. We shall retest 9000 levels again probably and make a divergence. Thats the time to buy.
If it doesn't make a divergence on RSI etc., 9000 retest will be a support that may get broken and we may proceed in stages to 6000+ on Nifty.
Hope it doesnt happen all the way by Gods grace