RITESH_TMR

Buy Nifty @ 9845 (CMP) with a SL of 9645 and target of 10080

Long
NSE:NIFTY   Nifty 50 Index
NIFTY seems to be following in Channel as shown in Chart, Similarly if you see on RSI similar to trading range there is expanding triangle and recent fall was with higher velocity which brought RSI to over sold zone. So I believe there will be this final up trend rally in NIFTY before we can witness a healthy correction. This Rally should also be as swift as the fall to confirm the final uptrend rally. So I want en-cash on this swift movement but going long on NIFTY .

NIFTY as indicated through arrows has given minimum 5 % returns whenever it has touched the bottom of the channel. So again this supports our view to go long on NIFTY .

Trade closed: target reached: NIFTY has crossed 10160 well above our target. I still believe we can hold our longs position. Because this recent rally will be a very swift rally and stock specific there would be more higher gains. If you noticed today as well A group stocks there was a good number which had more than 2% gains.