Nifty cmp 10854 spot near CLOSING ,macd has given a positive crossover on day charts
the key level on downside to watch is 10800 as long as 10800 holds on weekly closing basis nifty will be positive and ready to challenge recent highs
there are no decent resistances on upside as long as nifty holds 10800 THOSE WHO WISH TO TRADE POSITIONAL/INVESTMENT CAN GO LONG DISCLAIMER:I MOSTLY TRADE INTRADAY ONLY
nifty cmp 11048 the oscillators are overbought still nifty likely to reach 11100 which will be a good point to book longs .....while there are no significant resistances -nifty may see consolidation //profit booking in 11100 -11200 zone...... the aggressive traders who have good capital can keep holding long positions
HOWEVER KEEPING A SUITABLE TRAILING STOP LOSS IS A MUST
in case nifty starts trading above 11220 it will TARGET 12000 .....
GauravSaini
⋅
the breakout if it sustains will trgt 11300 failure to hold 10800 on weekly basis will be bearish and the downside swing low of approx 9950 likely ----there is thus a countertrend play(sell on rise) possible but risk is very high
HOWEVER KEEPING A SUITABLE TRAILING STOP LOSS IS A MUST
in case nifty starts trading above 11220 it will TARGET 12000 .....