Spot levels
Nifty has bounced back as I expected yesterday. There is no reason that the bull rally should not continue today specially because it is monthly expiry.
Nifty has clearly bounced back on RSI and has crossed 50 levels which is considered to be a buying zone.
Intraday (15 m) charts have made 2 rough bullish patterns which are rounded bottom and / or cup and handle. There is no clear indication or either side and also the RSI is above 70 so this might either give us sideways for a bit or might fly to new highs. I am not rooting for any further correction from this level.
Intraday (spot) stop level is around 14900
Nifty has bounced back as I expected yesterday. There is no reason that the bull rally should not continue today specially because it is monthly expiry.
Nifty has clearly bounced back on RSI and has crossed 50 levels which is considered to be a buying zone.
Intraday (15 m) charts have made 2 rough bullish patterns which are rounded bottom and / or cup and handle. There is no clear indication or either side and also the RSI is above 70 so this might either give us sideways for a bit or might fly to new highs. I am not rooting for any further correction from this level.
Intraday (spot) stop level is around 14900