Nifty 7 July 2020

NSE:NIFTY   Nifty 50 Index
Nifty Trap Zone 2 - Momentum Impulse Pattern formation
Major Resistance Broken by RALLY BASE RALLY ==> BREAK LIMIT ZONE
Minor Resistance created by the Engulf 1. --> followed by DROP BASE RALLY --> creating MOMENTUM IMPULSE PATTERN
Expecting Engulf 2 . to be formed which will be followed by formation of new Resistance ...
MONTHLY LONG ENTRY can be taken when prices touches MIP.

high point of engulf 2 expecting to be 10584
Trade active: high point of engulf 2 has to be above red zone by atleast 30-50 points
Comment: Now 10763 has been touched overall good engulf done .. now expecting the market to come down .. fill this gap created in 10600 region and 10400 region ---> touch the MIP zone then go back up for long positon


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