So for coming days we are ready with our analysis for Nifty .
The reversal zone marked has few fib confluences too which I removed as the chart looks messy. Right in our we have potential completion where we can initiate our short positions for smaller pattern based targets.
Nifty is rising up like a rocket for past two days and bulls will take rest for sometime which will result in pullback towards 7900-7950's ( I marked the zone wide, which is intentional too)
If the expected pullback happens then we can initiate long positions and note that Nifty is already heavily overbought
more than 95 .
Some will have apprehensions to go against trend (i.e) to enter the , if you feel so pls stay out n watch how it pans out. There is absolutely no harm & ur capital is also safe and you guys can enter later during the pullback .
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Happy Trading !
and Nifty is just 50-60 points shy of My Stops... Stoploss or Targets ?
Nifty will answer all of us Next week !