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Nifty's That Back to Back
There are always two ways to do it , so that's what we will be seeing in Nifty today.
Way 1 : Nifty will reach up to 10750's -70's zone
Yes, those kinda wicks which shoots upside to trap the bulls and moves down later, here be patient and do a wait & watch approach.
Way 2 : Nifty resisted by trend lines at 10700's
The other way of doing ...
Largely depends on what happens around current levels 10630's
How scary that looks ?! What a weirdo ? Nope, cut those thoughts in your mind...It's right to pick it up PNB if you have the risking ability till 65's in PNB, moreover the crux is charts says so, that there will be bounce back upto 115's.
Though its weekly chart, we aren't looking at fundamentals that's something which investors do, we aren't investors for sure, ...
A relief rally can happen to upside then towards down...
Always Risky on Expiry day...
Expecting Nifty to break the 10600 levels to move further down till 10450;s -10400's zone but sooner it happens better it is. Moreover Nifty can raise upto 10680's before moving down, so for intraday trades sell around highs with resistance on lower timeframe. These scenario's stands valid only if Nifty stays below the recent highs marked in the chart.
Trade Safe !
Nifty is consolidating as of now and in potential ascending triangle, breakouts can happen in any direction but the downside move is restricted with the supports at 10k-10100's. So unless the market breaks up n above triangle expect a ranging week.
All the Best !
There is just one logic : Gaps will be filled over the time
Only in rare cases it gets skipped !
Whether the pullback will happen or not : No idea
Thing we know for sure is entry on pullback :)
Its daily chart, so have patience !
Let's See !
Exit longs below 10350's, Nifty is all good above those levels !
Another swing to North
Let's see how it bounces up !
(iii) Trendline touch
Thanks for your support & Sorry for not spending time with you, lovely people :)