1.every new High is the intake of the buyers taking profit at the new highs. it is clearerly seen in nifty 15mins chart, the last hour consolidation make the caution in nifty that
selling may persist futher if it is not able to sustain above 18788.
2. we may also seen trend change in the nifty next month if the close this week is negative
nifty is trading in chanel whichis anticipating that there is measured target move by smart money. Hence till the channel is there nifty is likely to trend up.
Nifty has formed a range bound movement at higher levels which is indicating more trades in the buy as the market is bullish.
1. nifty tried to break the range but failed on either side so there are lot of orders waiting below the range and above the range tobe executed.
2. sell nifty only when trades below 18577 Sl top of range with target of 18375
3. buy only...
nifty again entering into the profitbooking zone .after making good bul run from 17800 nifty stated showing more red candle than the green candle which is indicating either profit booking or market is prepareing for a big move in either direction. hence is caution to be long without strict stops.
