bijoy2526

NIFTY struggling at wl3

NSE:NIFTY   Nifty 50 Index
unable to cross wl3,last day candle is doji .
every one will tell market like to fall.
extended rally.over bought condition,banking sector not supporting market
but does market go in the way what every one thinks?
recently we have observed doji succeeded by green candle next day trapping many.
move on the next day(monday will decide the move)
we have one gap below and other one is in the upside.
Any help from banking sector can move nifty much higher as reliance. tcs infy ,even hul, bharti airtel turning positive
hence nifty is not simply buckling down
presently I have neutral stand on nifty .
only decide after observing move on monday.
Comment: If banking index pulls down more there might be problem
reversely a slightest help from that sector can push market higher.
Comment: weekly lw 10675 is crucial breaking below will be negative for nifty.

Comments

I feel nifty after exhausting its energy, is gaining some more while conolidating in present range. In this kind of setup when prices consolidate in tight range with almost same size 4-5 bars, breaks out of the ranges and forms new high (double the range). Can we expect 11244 in nifty in this week ?
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I think Nifty cant close below 10733 ( previous Exipry week stop). This week Exipry stop Raised to 10860. so it should be tested at least twice for failure or closed above for next move.
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Wow! wonderful
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If you isolate effect of bank nifty on Nifty, what is median lines saying? clearly prices are consolidating. I like your neutral stance, that comes with experience.
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