The strength above 434 can be treated as a buy..but for positive results overall market should also show strength. For a better view visit my Nifty analysis page by clicking the link below
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Small triangle formation on lower time frame chart. One can find a buying opportunity above 437 as the price breaks out of the triangle range.
In case price breaks below the triangle range, the gap filler 432.50 can be seen as a buying opportunity.
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As per above plan i had a breakeven trade today.
Remember that the following plan is in anticipation of a reversal. You may follow any other plan to trade in the direction of trend.
Tomorrow I am expecting some bullish action in 430 to 435 range. I ll look for price entring into this zone on 15min chart candle closing basis. Then i ll wait for a pullback/retest near 430, a visible pullback, plus a confirmation to buy. Stop will be just below the bullish confirmation candles with initial target of 435.
All the best for tomorrow.
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weak..weaker..no respite or reversal signal as of now..one can trade with the trend.