Previously in NIFTY Outlook (7th Nov 2021) post:
-18098 was the first target, it is achieved on 9th Nov very accurately and market reversed to retest support afterwards.
-17763 was the mentioned support, Nifty was saved by almost 40 Points.
-Today Nifty tried to breach the first target (18098) with a Gap up but was unable to sustain above it.
-The second target remains to be at 18342.
(LINK TO THE PREVIOUS NIFTY Outlook (7th Nov 2021) IS GIVEN BELOW)
Now:
-The chart setup is still the same, only addition is the dashed black line which would act as resistance from now and support once it crosses above it to achieve the second target of 18342. The real bullish scenario would be created only if NIFTY crosses above the black dashed line.
-NIFTY has to close above 18098 and trade above it anyhow to achieve 18342, or else it would be a difficult scenario.
- DOW JONES is definitely in a doubtful situation,hopefully it would be clear soon. So please Stay Cautious. Always trade with proper SL in F&O Segment.
CHART & ANALYSIS – ADARSH DEY
LINK TO THE PREVIOUS NIFTY Outlook :
-18098 was the first target, it is achieved on 9th Nov very accurately and market reversed to retest support afterwards.
-17763 was the mentioned support, Nifty was saved by almost 40 Points.
-Today Nifty tried to breach the first target (18098) with a Gap up but was unable to sustain above it.
-The second target remains to be at 18342.
(LINK TO THE PREVIOUS NIFTY Outlook (7th Nov 2021) IS GIVEN BELOW)
Now:
-The chart setup is still the same, only addition is the dashed black line which would act as resistance from now and support once it crosses above it to achieve the second target of 18342. The real bullish scenario would be created only if NIFTY crosses above the black dashed line.
-NIFTY has to close above 18098 and trade above it anyhow to achieve 18342, or else it would be a difficult scenario.
- DOW JONES is definitely in a doubtful situation,hopefully it would be clear soon. So please Stay Cautious. Always trade with proper SL in F&O Segment.
CHART & ANALYSIS – ADARSH DEY
LINK TO THE PREVIOUS NIFTY Outlook :
Comment:
A closing below 17840 will not be healthy for Bulls.
