Since the Inflation concern & Harsh RBI policy, Indian Equity Market has react sharply lower. Technically NIfty is near very strong dement line between 15750-15850 zone.. once it hold, it can obsverve Short covering turns to pullback. Bulls will again try to gain above 16000 mark. Bears will again soar if NIfty breaks 15750.. ( Positional View )
Pattern Explanation: A Cup & Handle Price pattern on the daily chart of Sunpharma observed where the cup is in the shape of "U" or rounding bottom formation with almost equal highs on either side. Handle (Right side) is a small pullback from the higher end is also looks rounding which is almost 1/3rd of the size of the prior advance indicating a better strength of...
Banknifty_Spot: CMP 30024 immediate resistance at 30225. No trading zone is 29900 - 30224. Small profit-booking expected between this zone..Bulls will restore only above 30224 for the Target of 30550. Bears will gain control below 29897 for the Target of 29550
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60 Min Chart with Fibonacci Cluster setup suggests some important levels as a confluence zone is 1320-1359-1396-1511.
Stoploss for my long trade is just below 1236
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