Update 1- confirmation above 9925 & 9950 - Confirmed We are looking for upside to a new high of 10138
Update 2- Selling in structure at 9985 to 9860 - Holding 9850 support for move for new high above 10138- Amazing fall from 9985 to 9860 exact
Note - If 9900-9920 Zone gets broken downside then we see nifty for sizeable correction till 9650-9550 zone downside.
Yesterday before market could end we had entered with bullish harmonic between 10070-10080 - It pushed upside for 10104 before it settled at 10085
If it moves above 10100 - likely it continues to 10175-10225 as expected
Short term buy above 10100 with day low as stop loss.
Short term bottom at 10045 is formed so we book partial profit & look to sell on tops by looking for resistance in 10070-10085 Zone with strict stops above 10105.
Magical Support at 10045 at time 11:45 Hrs ( Just for fun)
Popped up to 10072 - Book Partial Profits if taken short term long with support @10045 as stop loss.
Next we will look to sell for targets 10025-10035 if 10085 holds on upside.
No selling please.
We are crossroads with important level of 10105 - if that crosses -Nifty can push to highs of 10138 -previous high else
Risk Takers -if they can afford to put stops above 10105 then they can take sell for lower targets of 10065- 10045-10025
Seems Bulls are back in Power - Now look for some pullback to enter the trade - do not jump straight away in the running train- else we will hurt ourself.
New Life Time High above 10138 - The pullback was awesome - we opened gap up & heading close to our target of 10175.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ