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SunnyPawar

'Cautious' Upside bias for NIFTY50 amidst geopolitical tensions.

Long
Nifty 50 Index (NSE:NIFTY)  
SunnyPawar  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Chart Patterns Wave Analysis nifty50_price_targets niftyindia niftyanalysis niftylong
5
2
trendanalysis chartpattern waveanalysis nifty50_price_targets niftyindia niftyanalysis niftylong
Amidst geopolitical tensions Nifty 50 ended with a doji indicating supply was drying up. And Nifty landed on a support amidst heavy selloff due to geopolitical tensions like N korea -U.S, India-China border standoff and also 11 Aug 2017 Friday, being the last day of the week.

Technically, Nifty ended with a 4th wave on a support and might resume on upside after some intraday consolidation on monday.
I think the supply has dried up but demand is yet to come in. I have an cautious upside bias in Nifty50.

P.S. Long term uptrend is still intact in NIFTY 50 as I write this article.

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