Re: Nifty Today's view
I bought nifty at 5714 5 lots and square off 40 Rs up, expecting a resistance at 5763, which did not happen. It went ahead and broke the high of Thursday. So now what!!
As explained in my previous post, there is a resistance at Fibo levels of 5853. So price should rise till that point. But looking at the 30 minutes indicators, I see some downtrend till the 15ema, which stands at 5777. So we should see a bounce back from this level, with strict stop of Fibo level 5763 - 10 points. I am short 10 lots with this expectation.
By weekly indicators, we still see downside. So I am expecting to short near 5853 (Also tenken of weekly) for target of the intersection shown in the chart.
Let's see!
So far, so good! Price went till 5770 and retraced to 5850. I am short 7 lots at an average price of 5830 with a weekly target of weekly 50SMA, 5725.
Looking at daily, it could go till the cloud top, 5895 or 50SMA, 5902.
Let's see!
I bought nifty at 5714 5 lots and square off 40 Rs up, expecting a resistance at 5763, which did not happen. It went ahead and broke the high of Thursday. So now what!!
As explained in my previous post, there is a resistance at Fibo levels of 5853. So price should rise till that point. But looking at the 30 minutes indicators, I see some downtrend till the 15ema, which stands at 5777. So we should see a bounce back from this level, with strict stop of Fibo level 5763 - 10 points. I am short 10 lots with this expectation.
By weekly indicators, we still see downside. So I am expecting to short near 5853 (Also tenken of weekly) for target of the intersection shown in the chart.
Let's see!
Looking at daily, it could go till the cloud top, 5895 or 50SMA, 5902.
Let's see!