Update - 26th November, 09.40 AM
Nifty didn't break the supports of 11780-50, mentioned earlier and after a lot of struggle, finally managed to cross its all time high of 12103.05, created a new high today of 12132, so far. Based on Fibonacci extensions it can primarily target 12210-12265.
Hi All,
Nifty didn't break the supports of 11780-50, mentioned earlier and after a lot of struggle, finally managed to cross its all time high of 12103.05, created a new high today of 12132, so far. Based on Fibonacci extensions it can primarily target 12210-12265.
Hi All,
Sensex today, hit it's Life time high of 30344.... it crossed the earlier high made in May 2019.
Though this is a very good sign, it's also a reason to worry as well. This is because, though Sensex has created a high, Nifty is still far by around 200 points from it's Life high near 12100, thus creating an Intermarket Divergence which can prove to be very serious...
Either Nifty has to catch up and create a high in the near future or else we need be prepared for a temporary or even a major set back for bulls...
11750 to 780 levels would be very crucial supports for Nifty and ideally it should hold these levels if it has to scale higher.
Bulls are advised to trail stops cautiously and bears can wait for an entry based on any significant bearish evidence....
Cheers....
Hrishi
No comments:
Post a Comment