Nifty Analysis Recap from yesterday: “Nifty has shown it is stronger than thought by bouncing off the channel’s upper boundary. For tomorrow, my stance is revised to bullish. Since we are at ATH, I do not have an upper target, but my support level will be 21037.” 4mts chart link - click here Results continue to amaze and amuse me. Never have I been rewarded so...
In short - Nifty is Overbought/Too Expensive/Too Hot to enter long currently. The further Nifty moves upwards the more expensive it'll get and higher the risk of negative short term returns/losses in case of futures. An inclined rally in a higher time frame is always followed by a dip. Step aside for the rest of the week and wait for any dip.
F U SEE THE DAILY CHART ITS A LONG ACCUMULATION BY BIG PLAYERS FROM AUGUST TO ALMOST DECEMBER START THIS STOCK IS TRADING AROUND 60 LEVELS, ACCORING TO WHAT CHART SAYS IF IT BREAKS 70 WE CAN SEE A BLASST TILL 100 LEVELS SL CAN BE 55rs ON WEEKLY CLOSING BASIS
nifty i m looking for pullback (conditional) of 300/400 points from 10320 to 10430 zone)