Nifty 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 as that shall be the channel breakout.
FII net buyer in cash segment while DII net seller
For tomorrow nifty shall remain bullish until it is above 5280 with upward targets of 5315 – 5337 – 5372 with stoploss of 5267 below which nifty shall become weak with downward targets of 5232 – 5210 – 5175 ( My view is nifty may open flat to –ve for tomorrow)
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
Now to make it clear from my side that my target of this wave is almost achieved and at the channel resistance and if ables to close above the channel red line then there could be breakout of further 150 points also as daily charts are overbought but there is no divergence on daily as yet and as per me if this is the high for the wave then nifty can correct on downside 5175 - 5135 – 5100 where on could reenter for higher targets on nifty (note atleast nifty should give correction upto 5160 levels to get strengthto go higher and may be this chance shall be due to some bad globle cues )
Positional shorts below 5100 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
No comments:
Post a Comment