fibonnacci confluence zone acted as support as I had mentioned yesterday and asked to buy at the break of yesterday's high. nifty gaped up and fell, Ultimately rose shrugging off prior two day's mild bearish sentiment. then what should be the target, as per me more than 10500 and logical stop loss just below the low of weekly expiry day(05-05-2020). I have done analysis to reach at that target around 11540. that I will disclose in due course. please go through my previous posts of nifty. like my post if it is helping you. follow me to get stock ideas.
Will bharti airtel manage to cross 600+ on Monday morning
samratk028
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Sir, I am new to stocks. I am becoming clueless when to go long n when to short. At this moment I don't want to enter and burn my hands. Can you please guide at what levels I can enter Nifty. Bcoz I am hearing this current rally will have correction and waiting for low level entry.
unsethi
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So, on Monday can we go long for 10500 or should wait for any more signal?
bijoy2526
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@unsethi, Monday nifty is likely to gap up opening we should not jump to buy at the opening just wait for a dip to buy.
unsethi
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@bijoy2526, IS the target of 10540 still achievable? Or Nifty has changed its direction?
sivaprakasamp
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Thanks for your analysis Sir! Are you still bearish for this year? I think you were expecting this rally and a subsequent deeper correction breaching earlier lows of 7500. Do you still hold that view? Also you mean a target of 10540 and not 11540?
bijoy2526
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@sivaprakasamp, according to studies over the years when June high of stock market takes out the January high rest of the periods stock market use to deliver positive result(some deviations may be there
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According to my opinion this year we may not see stock market zooming.and present trend only correction of previous down turn.
Last year June high was more than January high.and I had posted in trading view that market would end with higher return. If you search my posts you will find that.