kacharts

nifty - weekly hammer

Long
NSE:NIFTY   Nifty 50 Index
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12
WEEKLY HAMMER
any fall should be used to go long for the target of 11k
Comment: expected move
Comment:
Comment: A low of 10616 was seen. More pain likely so one should not be in a hurry to go long. May show 10560 as well. Lower timeframe charts be used to locate first higher high before going long.
Comment: looks like island reversal on charts
long only above 10605
Comment: one can long nifty 10650 call at 15 for the target of 45
Comment: nifty call made high of 32
nifty day low 10557 . was expecting 10560
Comment: 10650 call high 45
Trade closed: target reached
Comment: simple chart suggest we should see slight resistance at 10883
Comment:

Comments

This is only a corrective rally to the fall from 10929...
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There was weekly hammer by March too. It didnt work as per hammer expectations.
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