R-0086 BUY NIFTY | TARGET: 11,350 | STOP LOSS: 11,100
BUY NIFTY | TARGET: 11,350 | STOP LOSS: 11,100
The Nifty index continued to make a higher top and a higher bottom pattern and also achieved our short term target of 11,200. The overall structure is still looking positive as long as it holds its 200-DMA which is placed at 10,865 levels. The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls still have the upper hand. The volatility index, IndiaVIX, is hovering near 25 levels which is giving comfort to the bulls. Thus, aggressive traders can initiate a long position with a strict stop loss of 11,100.
The Nifty index continued to make a higher top and a higher bottom pattern and also achieved our short term target of 11,200. The overall structure is still looking positive as long as it holds its 200-DMA which is placed at 10,865 levels. The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls still have the upper hand. The volatility index, IndiaVIX, is hovering near 25 levels which is giving comfort to the bulls. Thus, aggressive traders can initiate a long position with a strict stop loss of 11,100.
Trade active:
My buy was around >11200 if you buy as lower price then adjust SL accordingly 11000/11050 or days lows depends on your risk appetite
Trade closed: target reached:
I gave the call around 11153 and it makes today's high of 11317 so approaching my target you can book your profit or trail SL.