Nifty analysis 09 feb 22
Hello traders,
Nifty and banknifty both have shown some bullishness yesterday. But still we will not go totally bullish because nifty has to close above 17620 to enter bullish area.
1. Nifty is currently seems to be travelling in a parallel channel in 5 min time frame. Please draw this channel in your portal. Nifty has closed right on the centre dotted line. If nifty opens gap up then wait and wait till the time it again reaches centre dotted line. Then if price takes support and then crosses 17340 then only take call with sl of 17310 for targets up to 17400. Please read it carefully. Because today might be a very waiting day.
2. Put position only to be taken when price breaks down from that channel surely 100 points will come.
3. If prices breaks out of the channel on upper side, then leave trading.
Moto is market will remain here only . Don’t be in a hurry. Stop practising of taking trade continuously. Till the time risk to reward is not good don’t take trade.
Thank you.
Nifty and banknifty both have shown some bullishness yesterday. But still we will not go totally bullish because nifty has to close above 17620 to enter bullish area.
1. Nifty is currently seems to be travelling in a parallel channel in 5 min time frame. Please draw this channel in your portal. Nifty has closed right on the centre dotted line. If nifty opens gap up then wait and wait till the time it again reaches centre dotted line. Then if price takes support and then crosses 17340 then only take call with sl of 17310 for targets up to 17400. Please read it carefully. Because today might be a very waiting day.
2. Put position only to be taken when price breaks down from that channel surely 100 points will come.
3. If prices breaks out of the channel on upper side, then leave trading.
Moto is market will remain here only . Don’t be in a hurry. Stop practising of taking trade continuously. Till the time risk to reward is not good don’t take trade.
Thank you.
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