Nifty Is Trading Near Neckline Support
As per our last analysis on Nifty 50, Nifty has given Inverted Head & Shoulder breakout and given closing exact below of resistance. In last week Nifty has reacted from both i.e. Support & Resistance. Also, there were many holidays that came in this month, so that is the reason the market is not getting a clear direction.
We had mentioned last time 11600 is strong support and 11700 is resistance. And Nifty has reacted from both levels in the last four trading days and given current closing near support. If we see chart then every candle has broken previous candle’s low and given closing above support. We can say here, selling pressure was heavy but buying has happened on every dip.
A safe player can buy Nifty from current levels (i.e. 11585) with a stop loss of 11450 on a closing basis. We are looking at targets of 11700/11750/++. Once cross and close above 11700 then big move expected.
We had mentioned last time 11600 is strong support and 11700 is resistance. And Nifty has reacted from both levels in the last four trading days and given current closing near support. If we see chart then every candle has broken previous candle’s low and given closing above support. We can say here, selling pressure was heavy but buying has happened on every dip.
A safe player can buy Nifty from current levels (i.e. 11585) with a stop loss of 11450 on a closing basis. We are looking at targets of 11700/11750/++. Once cross and close above 11700 then big move expected.
Uwaga
2 targets done, can hold with trail SL of 11600Uwaga
Today's high 11883Transakcja zamknięta: osiągnięto wyznaczony cel
All done
Wyłączenie odpowiedzialności
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