It buckled from double top & also heading now towards the channel resistance.
Weekly Analysis:
Daily Analysis:
Summary:
Weekly & Daily up. Weekly very near to the channel top & it's highly unlikely that it does not react at this point for a correction / reversal. To follow the reversal we should look at the fib levels.
The immediate opportunity to enter the bull trend might be matter of some time. It can be a good opportunity to short at the resistance points & exit at the sign of reversal.
Dear Rajib,
ReplyDeleteKindly guide me when to book shorts? And make long in nifty.
Regards,
Pinakin
@ pinakin,
ReplyDeleteI can talk about the levels to watch out for, but plz don't ask me about individual trades - you got to manage them on your own.
Above 6178 shorts don't exist, below 6098 downside momentum likely to increase.
As of now there is no suitable entry point for long - will update them as I see it.
Regards,
Rajib