Sep11 :Nifty in positive mode
Segment:CASH - Nifty Spot
Analysis: Its seems nifty and banknifty will make a recover in coming days with nifty reaching to level of 8000. 5th wave down movement has halted and a new ABC pattern should start.
For today's first session, it failed to across neckline of head and shoulder pattern which is formed at 3min chart.
For non-risky buyers...wait till it breakout neckline at 7850 spot price. Target will be 7850+320 points.
2nd session I see further fall and then sudden rise after 2pm to 3:30 due to profit booking in short positions.
As it failed to break neckine, as suggested...it will fall in first and second session....as it touched 7775-65 range.
ReplyDeleteThere will be a down gap on Mondaytill 7740-30 range( not sure,charts suggest that, stay positive, no short please)
7850-->>>to--->>8000 ->> 150 points gain till now
ReplyDelete200 points up done ->> if you are trading multiple lots...book 50% at 8053
ReplyDeletePlease exit with loss of 90 points for remaining positions
ReplyDeleteAvg profit -> 200 - 90 point = 110 points