If Nfity breaks and close below the strong support levels of 8579 than we might see a extended downward rally till the next support levels of 8500- 8475. if it breaks that too than a trend reversal rally may be seen and a big sell off.
For now, we need to keep a close eye on today's close and check whether it closes above 8579 or below to shuffle our positions...
It is been a while that the price action is been consolidating and now expecting a big breakout. I believe it will be a good move to ride on and I'm posting it now to keep a track on it.
From current price action levels, this may go up or down massively. It is a ideal time to build a position in this as it is at the minimum risk. Starts small and build up slowly.
The price action has just completed the previous Gap and now it may reverse from the current levels and moving up to reach out for 49 levels again. If it breaks out from current levels, then we might see 46 levels.
Take a good watch and it is ideal time to get it at minimum risk.
After two weeks of correction, this week Tata Steel has broke out and closed above 378 levels and confirmed the bullish trend. Now, it will continue its uptrend and will reach to 430 levels which is the next resistance point.
After making new lows and highs, it seems bullish and uptrending. It is expected to break out from the rectangular consolidation. Keep a close watch on it.
