The trend analysis done using few major support lines on daily chart, we are looked into major support/resistance trend line of market cycle trend, long term and intermediate term. Sensex channel has touched high value for all three channel, on 3rd June Sensex touched high value trend line (Resistance) continuing since 2009 and also touched high value uptrend running since Oct'18 and same for Feb'16. Since than it started downward movement and touched bottom of 1 channel in early July at 11,461 (touching bottom of its up trend continuing since Oct'18.). If it break this 11460 level/ channel it will continue to 11,0000.
Short position can be opened if 11460 level is broken by Nifty.
Short position can be opened if 11460 level is broken by Nifty.
Trade active:
11460 level is broken by Nifty, I hope you have opened shorts for 11K target
Trade active:
My analysis still says 11K is not far for nifty...
Short term Nifty next target 11,125, If nifty breaks 11,100 we will see nifty 11,000 and after which we will see upward pullback in this down rally.. As 10,975 is Major Support that's where we will see some buying around 10975 - 11,000 zone..
Short term Nifty next target 11,125, If nifty breaks 11,100 we will see nifty 11,000 and after which we will see upward pullback in this down rally.. As 10,975 is Major Support that's where we will see some buying around 10975 - 11,000 zone..
Trade closed: target reached:
Target 11,010 achieved..
Trade closed: target reached:
We have made 450 point of profit..
Now enjoy profit in retracement .. I published new idea
Now enjoy profit in retracement .. I published new idea
Comment:
Today Nifty has taken support from "support trend line since Feb'16" at 10,877 exactly from where our trendline was but if this support fail to hold the consequences are very bad and nifty will free fall..
Comment:
Nifty will test 9200 level
