koolshanin
Long

NIFTY Channel Trending with RSI divergence Good ROR setup

NSE:NIFTY   Nifty 50 Index
Nifty slowly drifting down is having occasionaly bear climax bars and moving down. Here, both bulls and bears not doing a great job. Bulls not have the force to pull nifty up and bears dont find excited to push it hard.

Trading in channel nifty is at the bottom of the channel and made a doji bar followed by a bear failure bar, continued by a bull body bar. so bulls and weak bears will book profit here pushing nifty to the higher trendline and good risk reward trade setup available.

SL 8055
Target 8150
CMP 8090

Comments

8370 on 23.12.2016
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koolshanin ASKSANTHOSHPM
@ASKSANTHOSHPM, would be great for bulls. let mkt guide us. for the moment bulls raring to have a go.
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ASKSANTHOSHPM koolshanin
@koolshanin, Just a novice view Shankar
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koolshanin ASKSANTHOSHPM
@ASKSANTHOSHPM, all are novice before market santhosh.. :)
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ASKSANTHOSHPM koolshanin
@koolshanin, Right sir agreed, but tomorrow would like to see 8180
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