3) FUTHER ADDITION OF BREAKOUT TODAY
NOTE : NOW YOU CAN USE AUTREFRESH LIVE CHART FOR NITY AND BANKNIFTY SPOT
JUST CLICK ON THE PAGE TOPNifty closes just near the channel resistance forming bullish inverted head and shoulder pattern shown by purple line if nifty able to close above 5350 levels we can make new high also.
FII net buyer in cash segment while DII net seller
Today there was highest openinterest in 5200 PE and 5200 CE (which indicates call writing of 5200 ) so below 5200 more weakness to be seen or gap down opening is expected as writers are smart money.
For tomorrow nifty shall remain bullish until it is above 5240 with upward targets of 5265 – 5280 – 5306 with stoploss of 5230 below which nifty shall become weak with downward targets of 5205 – 5189 – 5164
I have booked my longs at channel resistance and shall wait to buy on dips or for breakout at present I am not holding any position
As said that hourly charts are overbought with minor divergence nifty might correct if trades or opens below 5230 for minimum tgt of 5170 or open gap down and consolidate in narrow range.
Positional shorts below 5060 only until then try to buy near stop loss or play intraday levels. Nifty swing shall change if close below 4960 WHICH IS MARKED BY PINK LINE for two days till then swing is Up
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