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kacharts
May 15, 2017 7:33 PM

nifty: ready for new high Long

Nifty 50 IndexNSE

Description

nifty bounced from support of 9375 and broke trend line resistance in next candle at 9424 and successfully close above that .
price action suggest we are heading for a big target as we cross immediate hurdle of 9500 (highest call option OI).

price extension suggest a target of 9700+
earlier post and projection of nifty/ longer term view

strategy
buy with 9400 sl for 9500/9600.
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