According to its monthly chart, the index has made all time low of 1500 in the month of Feb 16 and from then it responded well and positive.
I believe it will continue its positive trend due to below top 3 reasons,
1. Globally Metals are positive
2. Metal Stocks like JSW Steel and Tata Steel have been moving positively
3. Structure support confirmation on...
As per my observation, the stock looks weak and so as IT looks weak too.
I believe Tech Mahindra is in its third correction wave, in which 5th impulse wave in progress as per the elliott wave theory.
Preferable Risk and Reward Ratio
Nifty is trading between two price action zones, will have to wait to get good trade.
Both trade are on only if price comes in the entry point after touching supply zone above current price levels.
trade levels on chart
