Nifty in a downward slopping channel
Current bounce can be expected to reach 16500-16600 levels
And selling to commence after that taking market to at least 15500 level although further downside is expected.
Current market is positive as the oscillators are showing positive momentum and the daily candle is a bullish harami/hammer.
Market will rally to fill up the gap and then retreat from there.
Current bounce can be expected to reach 16500-16600 levels
And selling to commence after that taking market to at least 15500 level although further downside is expected.
Current market is positive as the oscillators are showing positive momentum and the daily candle is a bullish harami/hammer.
Market will rally to fill up the gap and then retreat from there.
Trade closed: target reached:
Book profits on shorts
Markets to be range bound between 15500 to 16000
Wait for breakdown at 15500
Markets to be range bound between 15500 to 16000
Wait for breakdown at 15500