Nifty half hourly chart
Nifty Daily chartThe nifty has taken support at the 23.6% retracement level of the recent rise from 2539. The other fibonacci support levels are 2705-2673-2640.
My startegy would be to go long once the 2805-2840 levels are overcome decisively. Else, if the nifty rebounds from any of the support levels , then one can go long with appropritate stop loss, as the short term trend is up, and breakout from 2805-2840 can give good upsides of around 200 points.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
5 comments:
Thank you for your analysis. Just now sudarshan sukhani gave the same outlook on cnbc. I used to follow only his blog but now I am addicted to your blog also
rajesh
I think all the world indices also in littile bit overbought lvl.
So, above 2800/2840 lvls is possible @ this juncture? Anyway, keeping in mind everything and working.
Thank u
Thanks rajesh and sujatha . there is a lot of strength in the market as all dips are being bought into. watch out for cross of 2840.
I following this blog for 10 days now. Very specific levels and targets . The 2840 resistance was accurate
Avinash
Dear lakshmi mam,
thank you for the wonderful inputs,even i am totally hooked to your blog..my trading usually starts with opening ur blog and checking out your posts!! keep the good work going!1
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