Hi All,
As expected, Nifty could not sustain higher levels above 10600 and gave off the gains and currently trading negative by almost 100 points or 1 % from yesterday.
People who are on the short side from 10600+ levels with stop loss above 10750, can book part profits currently near 10450, and trail stop loss at cost.
On daily charts, Nifty has broken below the bearish pennant pattern showed in earlier post, and is now expected to go down, with a simple rule of lower tops lower bottoms, the first target expected for the down trend will be near recent low of 10250-70, after that one can expect pennant targets to materialize near 9800-9600....
Cheers!
As expected, Nifty could not sustain higher levels above 10600 and gave off the gains and currently trading negative by almost 100 points or 1 % from yesterday.
People who are on the short side from 10600+ levels with stop loss above 10750, can book part profits currently near 10450, and trail stop loss at cost.
On daily charts, Nifty has broken below the bearish pennant pattern showed in earlier post, and is now expected to go down, with a simple rule of lower tops lower bottoms, the first target expected for the down trend will be near recent low of 10250-70, after that one can expect pennant targets to materialize near 9800-9600....
Cheers!
No comments:
Post a Comment