Hi All,
starting with the regular update, as expected earlier, Nifty couldn't sustain the the latest rise of 1k points and gave away almost 1k odd points from the all time high near 11200.
Nifty has bounced back today from a 78.6% retracement of the entire rise from 10k to 11.2k levels, and on the lower side, 10250-10100-10000-9800-9600...
Though downside looks very hefty, the same is required for creating a strong base for the next upward rally.
Traders are advised not to take any trades on long side unless there is a convincing evidence on charts.... who are short as per the sell signal suggested below 10900-800, can trail stops or book profits...
Cheers
Hrishi
starting with the regular update, as expected earlier, Nifty couldn't sustain the the latest rise of 1k points and gave away almost 1k odd points from the all time high near 11200.
Nifty has bounced back today from a 78.6% retracement of the entire rise from 10k to 11.2k levels, and on the lower side, 10250-10100-10000-9800-9600...
Though downside looks very hefty, the same is required for creating a strong base for the next upward rally.
Traders are advised not to take any trades on long side unless there is a convincing evidence on charts.... who are short as per the sell signal suggested below 10900-800, can trail stops or book profits...
Cheers
Hrishi
No comments:
Post a Comment