- Nifty has broken the hourly uprising channel as shown as point 1 in the chart.
(Also observe the daily candle of 4th August, it has made lower low and lower high).
- Whenever the channel brakes, price action tries to touch the previous channel support ( Point 2 in the chart)
- I am expecting resistance between the zone 10080 - 10100 as previous support will act as resistance.
- The price action can attempt to touch previous support of 9920 - 9930 in the time of couple of days.
Kindly analyse at your end before taking the actual trade.
Target 1 - 9980
Target 2 - 9930
Stop loss - 10100.
(Also observe the daily candle of 4th August, it has made lower low and lower high).
- Whenever the channel brakes, price action tries to touch the previous channel support ( Point 2 in the chart)
- I am expecting resistance between the zone 10080 - 10100 as previous support will act as resistance.
- The price action can attempt to touch previous support of 9920 - 9930 in the time of couple of days.
Kindly analyse at your end before taking the actual trade.
Target 1 - 9980
Target 2 - 9930
Stop loss - 10100.
Comment:
Nifty made a low of 9947.
Comment:
Nifty made a low of 9926. Second target achieved. Market looks like has entered the sell on a rally zone.
Comment:
Nifty has bounced and now ready to go downwards again. My initial trade set up was as below
Target - 9608 , 9540 SL - 10020 (Closing basis)
Re-wised SL 9950 ( yesterday's high)
I think these targets can be achieved by next week.
Target - 9608 , 9540 SL - 10020 (Closing basis)
Re-wised SL 9950 ( yesterday's high)
I think these targets can be achieved by next week.