Looks like a bullish flag was made and Nifty did attempt to break it yesterday itself. Let's see where we open today but I think the bull rally should be back very soon.
There is a good support at 17274.50 level so the stoploss should be 17250 closing basis.
Long traders should keep the targets open as the nifty still has steam and we may see 17650 /...
Same analysis for Wipro again. If we look at the end of the day, we can see bear in control but that trendline support is too strong. Wipro can give reversal signs from support and if open up with gap down, I have put a trend line that can act as future support based on price action. Trade safe.
I hope you can now see how NIFTY represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
I have given the bank nifty today morning before the market opens and I exactly mentioned to sell @ opening of market which exactly went my way .
Now here nifty has a down drift and oozing to sell with tight targets
Will post more updates on tomorrow’s forecast
Upper range 10100
Lower range 9800
BANK NIFTY Trading is always in high volumes.
Its very important to understand the entry and exit levels for same.
Candle Sticks and candle patterns give us a good view of the future trends and thats how I derive data.
Upper Range 20550
Lower Range 19750
Lets talk about more ideas.
50% retraced 4th wave - 8957
61.8% retrace 4th wave - 8741
Wave 1 and 2, both connected parallel chance for finding 4rth wave. Intraday support 9100 nearby.
Short Sellers: first target 8965-8935 after breaking down the channel.
Next long position Trade Setup have two option :-
Buy 8957nearby with minor stop-loss and,