BlackJackCo
Long

NSE: NIFTY 50 Analysis from 1 month consolidation Long/Short

NSE:NIFTY   Nifty 50 Index
NSE: NIFTY 50
1 month chart pattern data analysis.
Nifty is consolidating between 10981 to 10552 during last 1 month
Trend flat with very slight negative bias and opportunity to play buy and sell
Its seems forming symmetric traingle, 10762 looks to be a good support level
Possible long above 10762 with stop loss 10711 and target 10812, 10851, 10889. break above 10889, looks tuff, further move can take nifty to 10,981
Below 10711 it might move further down. Close below 10711, will initiate short for target of 10646, 10542
Trade active: Good move: Achieved the targets 10812, 10851, 10889.
Continue to hold Long until it breaks above 10,889 on daily closing basis for next move.
Trail your stop loss to break even (May be 10812) and hold for next.
Trend is still not strong.
Trade active: Nifty closed above 10900, Trail your stop loss and hold on to long.
Trade active: WoW! Nifty Hit the target for 10987+ today on long side as recommended on Jan 13, 2019 . Total move 200+ points
Trail your stop loss and hold on for further breakout above 10,984 (close on daily basis)
This break out will open way for 11,000
Trade closed: target reached: Profit on Long / Short
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