Nifty view for next week, 1:1 risk reward scenario
Nifty next week view :
If any good news delivered by the FM we can see a 25 to 45 points gap up opening on Monday.
Nifty spot may open at 11110 or 11128 just a prediction.
Then for intraday 11058 and 11080 can act as crucial supports.
My opinion is to long in Nifty keeping in mind the supports and just the price action.
A bullish divergence is also noticed on Nifty Spot charts on a weekly timeframe as
shown in my previous analysis yesterday.
Next big resistence in Nifty is placed at 11110,11150 and 11194.
A stop of 11000 in spot can be kept if one wish to go long till 11200 which is 1:1 risk reward.
Play safe with appropriate stops.
This month expiry if happens above 11210 to 11230 a new bullish trend can take place.
If any good news delivered by the FM we can see a 25 to 45 points gap up opening on Monday.
Nifty spot may open at 11110 or 11128 just a prediction.
Then for intraday 11058 and 11080 can act as crucial supports.
My opinion is to long in Nifty keeping in mind the supports and just the price action.
A bullish divergence is also noticed on Nifty Spot charts on a weekly timeframe as
shown in my previous analysis yesterday.
Next big resistence in Nifty is placed at 11110,11150 and 11194.
A stop of 11000 in spot can be kept if one wish to go long till 11200 which is 1:1 risk reward.
Play safe with appropriate stops.
This month expiry if happens above 11210 to 11230 a new bullish trend can take place.
Trade closed: stop reached:
Stop hit...@ 11k spot!!!