Update - 26th August 9.45 AM
Hi All,
Nifty, thanks to the positive announcements by the FM, Nifty gaped up today, however, it is not able to sustain gains and has come down almost 200 points from the opening high of 11000.... Infact it has turned negative as I write this and it's not a good sign at all for bulls.
I doubt anyone would have had a chance to buy Nifty today, if anyone had gone long on Friday, it is advisable to book part profits and have a tight trailing stop loss.
Plan of action can be, Buy on dips to 10780-10720, with a minimum risk and follow a stop loss of 10600. Please remember, it's strongly advisable buying on dips should happen only with a bullish evidence on intraday charts...
If this up move has to continue, ideally Nifty should not break 107750-765, which is a 61.8% retracement of the rise from 10630-11000
Cheers
Hrishi
Hi All,
Nifty, thanks to the positive announcements by the FM, Nifty gaped up today, however, it is not able to sustain gains and has come down almost 200 points from the opening high of 11000.... Infact it has turned negative as I write this and it's not a good sign at all for bulls.
I doubt anyone would have had a chance to buy Nifty today, if anyone had gone long on Friday, it is advisable to book part profits and have a tight trailing stop loss.
Plan of action can be, Buy on dips to 10780-10720, with a minimum risk and follow a stop loss of 10600. Please remember, it's strongly advisable buying on dips should happen only with a bullish evidence on intraday charts...
If this up move has to continue, ideally Nifty should not break 107750-765, which is a 61.8% retracement of the rise from 10630-11000
Cheers
Hrishi
