Nifty Short Term View -26th October Bulls bounce back
In my previous report I had shared that 18225 to 18014 this entire price band may act as immediate support for Nifty futures, this price band has worked so well that not even a single candle in hourly charts was able to close below this band & today nifty future has bounced nicely from this band.
Trend is now up once again in the daily & hourly charts. Trend line breakout is visible in RSI which adds to overall bullish sentiment, in addition to this even price has closed above upper Bollinger band which is widening this is again a sign on rising directional volatility ( good sign for bulls ). Apart from private banks almost all important sectoral indices closed in green territory. Although price has bounced back from support band it is important that a big green candle should close above 1845o in Nifty future hourly chart, if this happens than 18590/ 18750/18900 levels cab be tested in near term. Focus should remain on Metals & Realty pack but don't buy any stock, be extremely choosy in your stock picks.
Trade Wisely !!
Trend is now up once again in the daily & hourly charts. Trend line breakout is visible in RSI which adds to overall bullish sentiment, in addition to this even price has closed above upper Bollinger band which is widening this is again a sign on rising directional volatility ( good sign for bulls ). Apart from private banks almost all important sectoral indices closed in green territory. Although price has bounced back from support band it is important that a big green candle should close above 1845o in Nifty future hourly chart, if this happens than 18590/ 18750/18900 levels cab be tested in near term. Focus should remain on Metals & Realty pack but don't buy any stock, be extremely choosy in your stock picks.
Trade Wisely !!