NIFTY has made a near bottom of 15700-15800 range for now
the rise will be followed by the retest levels of 15978 and 16070's around
NOTE : CONSULT your FINANCIAL ADVISOR before taking and investment decision on this study
We saw that Nifty did not pay heed to the Doji pattern today. Infact it took support near 11452 and bounced back and closed near the high for the day and in the process formed a bullish candle. One may buy Nifty with a SL of 11449 and targets of 11546/11565/11590.
A safer strategy would be on the options front
Nifty looks to have completed W.d of the Triangle which means one more leg down for W.e and then Impulse to the upside which should take it higher then the 11080 level.
We wait either for W.e completion to go long or a break above the Trigger Line.
SL remains below W.c low 10935.
