As described in chart drawing based on Zig Zag and support reistance. These are my personal views. No investment or trading decisions are advised.
Nifty IT is dipping down in support zone which I feel is an important support zone. Watch out if support holds. These are my personal views, not by any means trading idea or investment decision.
I personally feel nifty is not yet completed the short leg. Some more down side is still expected. These are my personal views based on my little understanding. So, no need to take it seriously and act upon it.
Although broader markets are falling apart in short leg, tata steel looks controlling it self in a daily support zone. If broader markets starts performing well again, I feel tata steel will perform well. Views are personal, not any kind of investment or trading advise.
As described in chart drawing, I have attempted to draw Sup/Res ranges for shot term. The zone which I was looking for a day before is now being tempered with, will watch Monday price action. Conclusion is nifty if breaches immediate support marked as S1 will hold the probability to retrace till S-2. And if nifty takes support at S1 and breaches R1 then next...
As described in chart drawing, if the support is intact, I feel it should move up to next long target.
As described in chart drawing I feel silver has retraced to a support I understand. If my hypothesis is correct, then silver may give a decent bounce on long side.
As described in chart drawing. Although nifty crossed price high but I am observing internals traits are still lagging this up move. Unless it retraces to liquidity this up move will not be healthy.