by just analysing the structure of market on hourly frame it seems that the downtrend may not resume unless and untill nifty holds 11014 on closing basis !
we can then see further gaps getting filled due to it ! lets just keep a track at levels closely!
1st day of week on Monday 2nd April Nifty 50index managed to open positive and witnessed sustain buying interest throughout the day. It managed to hold and surpass the Hurdle 10158 and headed towards 10220 levels. Bulls recovers with sustaining pulls up to the bears, It managed to hold above previous weeks’ close and formed a Bullish candle on the daily scale.
Amamaraja now has a resistance at 200 EMA. It made a round bottom at Daily Time Frame
Will Raja will conquer the resistance?.
Once breaks it resistance we can initiate a long.
Buy above 812
Target 1 : 821
Target 2 : 847
Target 3 : 904
CBSL (Strict) : 800