Somanathrout

nifty analysis in daily time frame

NSE:NIFTY   Nifty 50 Index
finally nifty has given close above resistance line in first attempt. but its history says in this line it has reversed the trend after a decisive close. so we need to stay alert and also 0.9 % percent from 11795 the supply zone is lying at 11696. If an hourly close comes above 11696 or a gap up opening above it will indicate to long in nifty for target 11795 first target. Till then stay away as expiry will be on day after tomorrow and it can sharply turn back.
if a daily close is obtained above 11800 this expiry then next target to be looked at is 12400 with trailing stoploss.
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