Hi All,
As mentioned in the previous post on Friday, Nifty was trading near the upper end of a rising channel, and a healthy correction can not be denied.
Following the same prediction, Nifty is about to open gaped down by more than 100 points and the crucial support to watch out for will be 8700-8760 levels below which Nifty can even go further down till 8570-8620 levels.
Though the bias for markets will be buy on dips, a confirmation on chart is mandatory before going long after such a huge gap down opening.
Will update you if there comes a trading opportunity. 8700-8760 will be the levels to watch out for.
Cheers
Hrishi
As mentioned in the previous post on Friday, Nifty was trading near the upper end of a rising channel, and a healthy correction can not be denied.
Following the same prediction, Nifty is about to open gaped down by more than 100 points and the crucial support to watch out for will be 8700-8760 levels below which Nifty can even go further down till 8570-8620 levels.
Though the bias for markets will be buy on dips, a confirmation on chart is mandatory before going long after such a huge gap down opening.
Will update you if there comes a trading opportunity. 8700-8760 will be the levels to watch out for.
Cheers
Hrishi
3 comments:
Hi Hrishi,
i have question on (D demand zone) in my understanding d demand zone is drwn when we have atleast 3 healthy candle moves, but i dont see any such move in 8714 and 8809
could you please something more on this ?
Thanks
Hi Sanket. I have marked the zone which is more of a support zone. Just used the tool of demand zone to highlight the area. The support zone can be drawn based on pure bottoms or other indicators like Super trend , etc
Hi Hrishi,
Any forcast on the market on 14th Sep 2016, if Nifty would rally then how far it may rally?
Thanks
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