Nifty has given closure above the previous long term trend line and crucially above 18050, 18040-18055 being resistance band.
if nifty manages a gap-up opening or flat opening and post retest of 18050 levels, CE position can be considered with sl of 18045. targets being 18092, 18136, 18169, 18200 and 18247. till 18247 is crossed nifty can be considered to be in consolidation phase.
in case of gap down opening, 18050 will be the SL but trade will be risky considering the low R/r on account of channel and long term trend line. if both are broken target till 17795 can be look upon. but with most of the world market showing positive (except for HSI) this looks unlikely.
if nifty manages a gap-up opening or flat opening and post retest of 18050 levels, CE position can be considered with sl of 18045. targets being 18092, 18136, 18169, 18200 and 18247. till 18247 is crossed nifty can be considered to be in consolidation phase.
in case of gap down opening, 18050 will be the SL but trade will be risky considering the low R/r on account of channel and long term trend line. if both are broken target till 17795 can be look upon. but with most of the world market showing positive (except for HSI) this looks unlikely.