Update - 29th August 9.45 AM Nifty @ 111990
Hi All, as expected, Nifty yet again faced resistance near 11150-11200 mark and failed to go higher.
As advised day before, bears can book partial profits near 10980-90 for the shorts initiated near 11070-11100, and trail stop loss at cost...
Cheers!!!
Update - 27th August 9.45 AM Nifty @ 11070
Nifty has rallied further, and now trades within the crucial resistance area of 11080-11150-180...
Advised bulls to tighten the trail stop loss below 11000-10950 for the longs initiated near 10780-800...
Risky Bears can even think of sell on rise with a stop loss above 11180-200.
Cheers
Hrishi...
Hi All,
As expected and posted in the morning trades today, Nifty fell near the support zone of 61.8% retracement mark and handsomely bounced back.
The bounce was so strong that currently the markets are up by more than 2% and Nifty is up by almost 300+ points from today's bottom near 10750.
For the Long initiated near the levels of 10780-720, it is advisable to book partial profits near 11050 levels and trail stop loss at cost.
Also, as discussed earlier, this up move can not be called as trend changes untill and unless Nifty does not cross 11200-11250.
Immediately 11000-10950 would be key supports on the lower side where as 11080-11150-11180-11200-11250 would be hurdles going ahead.
Cheers
Hrishi!
Hi All, as expected, Nifty yet again faced resistance near 11150-11200 mark and failed to go higher.
As advised day before, bears can book partial profits near 10980-90 for the shorts initiated near 11070-11100, and trail stop loss at cost...
Cheers!!!
Update - 27th August 9.45 AM Nifty @ 11070
Nifty has rallied further, and now trades within the crucial resistance area of 11080-11150-180...
Advised bulls to tighten the trail stop loss below 11000-10950 for the longs initiated near 10780-800...
Risky Bears can even think of sell on rise with a stop loss above 11180-200.
Cheers
Hrishi...
Hi All,
As expected and posted in the morning trades today, Nifty fell near the support zone of 61.8% retracement mark and handsomely bounced back.
The bounce was so strong that currently the markets are up by more than 2% and Nifty is up by almost 300+ points from today's bottom near 10750.
For the Long initiated near the levels of 10780-720, it is advisable to book partial profits near 11050 levels and trail stop loss at cost.
Also, as discussed earlier, this up move can not be called as trend changes untill and unless Nifty does not cross 11200-11250.
Immediately 11000-10950 would be key supports on the lower side where as 11080-11150-11180-11200-11250 would be hurdles going ahead.
Cheers
Hrishi!
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