NIFTY Next week Short Below 16960 Stoploss - 17210 Target - 16500 , 16400, 16300, 16200, 16000
I AM EXPECTING NIFTY TO GO IN RANGE OF 16200
nifty is going to touch 16000 in july series , take long postion at sl of 0.5%. it's for an educational purpose only.
- NIFTY saw some small corrections in last 2 weeks. - It has formed Bullish Engulfing candlestick on weekly basis. - It may cross resistance level of 16000 in about 2 weeks and then re-test those levels for sometime.
As shown in the pic, NIFTY clearly took support at the bottom trendline Next Swing may be towards the upper trendline which coincides with the psychological resistance of 16000. One may sell 16000 - 15500 Put with hedge