We saw a running correction yesterday. The points to note is thta Nifty took support at 50 DEMA and closed above it in 4 hour charts.
There is a reversal in MACD and RSI in the 15m charts as well.
My suggestion is buy for target of 16000 and 16150.
This is Gap Down Scenario-1 for NIFTY . Level and Target are mentioned on Chart.
Take Long (CE) First Entry in range of 15630-15635 Zone. Target and SL mentioned in the Chart.
Tale long (CE) For the 2nd Entry, the range will be 15700-15710. Target and SL mentioned in the Chart.
Don't hold current week expiry. And don't chase for big upside...
NSE:NIFTY is going to cross its 16000 level in next 2-3 trading days. Everybody is saying the ground reality and the market reality are not matching but that's why it is called the biggest hated bull market of India.
The market has filled the gap opening that it had made previously and made an even lower move that seems like a shallow pullback. Hence, there are good chances of the market moving up as the market closed with a good rising volume . According to me it will be a good CALL market on Monday and if the market opens gap up wait for it to cover the gap and when it does...
IMPORTANT NOTE: Trade in 5 Min and 15 Min Time frame, the TradingView is not allowing to post in the smaller time frame and I'm not interested to buy premium plan so please trade as per given time frame and level and targets Thanks.
Nifty50 trade analysis and level targets
Don't wait for a big move get profit and exit from the market, fall can befall any time...
Check out this link for the detailed analysis of nifty movement
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******