As mentioned previously, Nifty has given bounce from 11100 and this level is playing the role of strong support. On Wednesday, Nifty has given a good spike and closed at day high. We can say that Morning Star has been created near support. As per our view trend is neutral now and in the last two trading sessions, Nifty not break the range of 11400 to 11200. If we see a weekly chart then closing is strong.
Risky players can buy Nifty here i.e. 11300 and keep a stop loss of 11100 on a closing basis. Also, small players sell at the same level and keep SL of 11400. The target for buyers is 11400-11500 and seller 11200-11100.
Nifty has given closing above 200 DMA.
Risky players can buy Nifty here i.e. 11300 and keep a stop loss of 11100 on a closing basis. Also, small players sell at the same level and keep SL of 11400. The target for buyers is 11400-11500 and seller 11200-11100.
Nifty has given closing above 200 DMA.
Trade closed: target reached
