WAIT TO ENTER
POSITIONAL BUY ABOVE 6775 (EOD CLOSING) ONLY
REVERSAL IS POSSIBLE ANYWHERE BETWEEN TODAYS CLOSE TILL 11200
Nifty spot may probe lower targets of 8325 & 8220 in August
Upside looks limited with a range 8655-8680.
8% UPSIDE POTENTIAL
NIFTY AT CRUCIAL ZONE - POSSIBILITY OF REVERSAL
If there is a breakout of down sloping trend line with volumes, Nifty spot path is Long in Near term 1-5 days and then down wave again to sub 7850.
Trade only after reversals/ validation of volumes/ indicators.
Do not play for H&S pattern target of 8700 as target may be restricted to 8426-8437
Good BUY for Medium Term.
Stop Loss for Longs = 287
FIRST A BULLISH TARGET TO 8450 -8600
THEN A BEARISH TARGET TO 7546 AS PER HEAD & SHOULDERS PATTERN
Smart Money may lure retail & domestic investors into a BUYING FRENZY, before they start offloading their holdings again.
We may see one more vertical fall till 7800-7600.
DO NOT ADD SWING SHORTS IN ACC
HEAD & SHOULDER PATTERN & AB=CD PATTERNS INDICATES, POSSIBLE 1000+ POINT UPMOVE IN SHORT TERM