NIFTY is in retracement of previous big fall , the retracement is not Big positive for market even after Big news out. There is strong resistance at 11100 level. Break out on trend line at 11100 can reverse the trend. keep the stop loss out of trend channel.
Target 1 : 10845
Target 1 date : 29th Aug, 2019
Target 2: 10605
Target 2 date : 3rd Sep, 2019
Target 1 : 10845
Target 1 date : 29th Aug, 2019
Target 2: 10605
Target 2 date : 3rd Sep, 2019
Trade closed: target reached:
NIFTY took enough time to reach towards the direction we expected, but it fail to reach the targets mentioned above. NIFTY likly to reverse back fro this level. Please book profit and exit.
Thumb rule: Exit trade once it crosssed the target date even though target is not reached.
Thumb rule: Exit trade once it crosssed the target date even though target is not reached.
Comment:
I will add updated analysis for NIFTY today evening,.