Dear All,
We can once again see a Doji formation on the chart of Nifty, which is quite a good indicator of a fight between demand and supply.
Indeed this fight is quite natural as we are currently at a very crucial level of Resistance of 17800. Besides, it was since the level of 16800 that we have always been bullish on Nifty, for a bounce back towards the level of 17800. Fortunately, the same has been supported by the Index itself.
Moreover, above 17800 we will once again be very optimistic for the new highs in Nifty.
Whereas for now, with the support level of 17300, continue following the Cherry picking strategy, along with some cautiousness as a vertical rise can trap you at any time, wherein a proper money management strategy is quite necessary at the current market situation.
Regards,
Alok Daiya
SEBI Registered Research Analyst
We can once again see a Doji formation on the chart of Nifty, which is quite a good indicator of a fight between demand and supply.
Indeed this fight is quite natural as we are currently at a very crucial level of Resistance of 17800. Besides, it was since the level of 16800 that we have always been bullish on Nifty, for a bounce back towards the level of 17800. Fortunately, the same has been supported by the Index itself.
Moreover, above 17800 we will once again be very optimistic for the new highs in Nifty.
Whereas for now, with the support level of 17300, continue following the Cherry picking strategy, along with some cautiousness as a vertical rise can trap you at any time, wherein a proper money management strategy is quite necessary at the current market situation.
Regards,
Alok Daiya
SEBI Registered Research Analyst
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya