Nifty loves you to keep guessing.........Stuck in a range.....

Hi all,

Nifty seems to be stuck in a range of 5870-5790 and is expected to break either side sharply... with the hourly -ve divergence yesterday (refer yesterda's post) looks like 5790 is at a threat....

However I will advise to trade on short side with a very strict and tiny stop los above 5870... CMP 5830-40 for Nifty!!!!!

After breaking out on the up side resistances would be near -5910-5940-5980-6000


& after breaking down supports would be below  - 5730-5670--5610-5590......


Cheers

Hrishi

 

Happy trading and money making

What goes up comes down....Alarming signal...... May be....!!!

Hi All,

Nifty on hourly charts has shown first sign of cracks with a negative divergence......

The same would be triggered below 5800-5790.... and the targets can be 5730-5670 with stop loss above 5840-50....

Nifty has rallied up a lot and looks like is due for a small pull back at least.....

Update - Nifty May PE 5700 @ 64 and 5800 PE @ 97-98 looks good.....

Cheers


Hrishi