NSE:NIFTY bounced from Gann Fan support of 2/1. Going long is feasible as soon as these supports are not violated. If they are deceived a Short should be made in it .
Happy Weekend ! Hope you are all having relaxed n fantastic weekend... Why, we need to say bull run is over for the year when Nifty is predicted to touch 11k by end of 2017 ? We will discuss the various factors taken into account & go one by one but do remember this is not trade setup, just an analysis so the result whether it happens or not , Never gonna have...
I am looking to enter Close above 141.00 for Target of 145/146 short term holding , Probably they will brake the upper trend line and bring the price down for new down ward impulse , its also possible before moving they may make small lower side brake out ( Fake out ) and pull the short seller and take the price to 145 range I am considering this is for short...
Expect a strong bounce back to 310 levels if the stock holds current levels. It is trading near the confluence level and the level will act as a strong support. Analysis based on fibs