Nifty after opening the week on a high has moved sideways all the week. Things have been quite for nifty all along the week with good consolidation. Now with expiry looming overhead will it cross the resistance and move for a strong expiry in June is the question. On charts the move of nifty is well channeled. RSI(9 days) is moving sideways but within the channel. Nifty price looks at the upper end of the Bollinger Bands which is positive for it, if we look for the past 4 months on the daily chart. The levels of 5174 and 5020 marked on the charts will define the trend for nifty. In all it looks poised for next up move unless 5020 is taken out. Intraday traders can look at the levels given on spot nifty to trade on Monday.
No trade between 5128 and 5164(To avoid whipsaw)
Buy above 5164 sl of 5144
targets 5182-5200(add positions breakout on the upside)
5218-5236-5254-5272-5290.
Sell below 5128 sl of 5148
targets 5110-5092(add positions breakout on the downside)
5076-5058-5040-5022-5004.
Happy Trading !!!
very very clear charts nice one beautiful analysis sir
ReplyDeleteSir,
ReplyDeleteThank you....
warm regards
K B Raut