Hi all,
Though, found it a bit difficult, 8800, acted strongly, and allowed Nifty to bounce back sharply. It has now crossed 9320-9400 convincingly.
Going forward, Nifty is resting now near the upper end of the triangle patten mentioned in the earlier post. at 9600. After sustaining above 9600, Nifty should ideally move towards the 50% retracement of the entire fall from 12400-7500, near 9880-9900... And above that, it should target 10k and 10400-500 levels...
As Nifty is at the upper end of the triangle, possible we can see some muted action / correction, however, still the time Nifty closes above 9400, the ideal target would be near 9880-9900
Cheers
Though, found it a bit difficult, 8800, acted strongly, and allowed Nifty to bounce back sharply. It has now crossed 9320-9400 convincingly.
Going forward, Nifty is resting now near the upper end of the triangle patten mentioned in the earlier post. at 9600. After sustaining above 9600, Nifty should ideally move towards the 50% retracement of the entire fall from 12400-7500, near 9880-9900... And above that, it should target 10k and 10400-500 levels...
As Nifty is at the upper end of the triangle, possible we can see some muted action / correction, however, still the time Nifty closes above 9400, the ideal target would be near 9880-9900
Cheers
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