Good Morning ! There are 3 possible scenario's in Nifty, but if we have to go by logic retest of 9580's sounds valid but we are unsure whether Nifty will give us what's expected.
The potential chance of Double Bottom around 9480's will be spoiler if market opens gap down & breaks the level, then based on aggressive entry's aim for 9400's-9380's zone as targets. The other scenario being, we are getting good open around same range as yesterday close & Nifty moving down forming double bottom retest 9530's zone then heading down. These are the various potential scenario's awaiting to emerge in Nifty, I hope Nifty won't do anything out of syllabus for the day, act accordingly depending on any of these scenario evolving during the session. Just one last point, if Nifty opens Gap down & we get good entry at double bottom to retest previous 9580's, then it will be too good, too much of expectations that will be. These are not single day scenario's, just for day or two.
InsiderB, you have only mentioned the scenario of Nifty opening gap down. Last night sgx July was trading at 9550. So whats your view in the case we open gap up ?
InsiderB
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@priyanknevatia, It's yesterday's post, Today's post not done yet !
Imprimus
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Even i am looking for pullback till 9550 - 9560, then short till 9450 - 9420 and then again long till 9560 - 9600 and then again short till 9315 - 9275 and then 10000. Let see how nifty develop its wave over the coming days. So, more precise targets area can be measured. This is the overall notion of the market i am getting, looking at it.
InsiderB
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@Imprimus, Great, I have just mentioned a two-day scenario & cut down others , you have given the view for short term itself :) Good one, let's see how things evolve in Nifty...
khimilsoni
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@Imprimus, that was a really good outlook but are we really looking out for 10000 in the short term? I'm a little skeptical on that one. Views?
priyanknevatia
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@Imprimus, I believe we may open around 9525 - 9550 then 9400 - 9425 and then 9575 - 9600 ... I expect these moves to happen today / tomorrow. If 9400 broken then 9250 and 9000 and if 9625 broken then 9800 - 10000 in July series / early August. Be careful in July 2nd half for result season