Nifty did fall as expected, reversed from first support at 1853.
As it can be seen in the chart above, Nifty remained within the channel and took support from the lower band. This came on the back of support from Bank Nifty that has been running strong for past few days.
It will be interesting to observe how it pans out tomorrow, a lot of analysts feel the...
As mentioned in last publication, I had suggested that close below 30400 would suggest weakness in trend, which has happened. Now Price is taking support in cloud and has closed within it. I would wait for tomorrow open and either going above 30400 or sliding down the cloud, today it was good for intraday plays as suggested, until this happens it will be same...
Nifty has break all its major resistance levels and trying to test its major high levels.
With Technical levels it looks like it is trying to make a Cup with Handle Pattern. So Be cautious with your trades.
This Diwali we might see the new levels of Nifty. But still who know the bad news.
So have a strict SL of 11470-11490 Range.
Or buy if it gives opportunity at...
Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.
RSI(14) indicates a build-up in strength.
BOB is showing some support around 85.65 zone
if broken it is likely to continue its fall which started in Jan 15.
What is probable is to find support in 82.65-74.95 zone and
if this happened we can see 150 levels in coming months
Long on pullback
AS WE CAN SEE ....WE HAVE FINALLY FILLED THE GAP IN NIFTY TODAY .......... NOW WE CAN BE BULLISH ON IT FOR THE TARGET OF 11320 IT IS QUITE A CONSERVATIVE TARGET BUT IT IS QUITE PRACTICAL ONE.