Suppose to close below or trade below 11760 nifty, then hold position for our mentioned targets… selling pressure are seen.
As we saw yesterday, there has been a lot of profit booking by Fund-Managers. Although daily candle appears technically DOGI, this is a single of change trend.
Nifty price is still above 50MA and 200MA as plotted in chart also, which indicating positive bias in the short term.
Cash Nifty:
selling expected is 11729 to 11748 and below 11580 below is confirmation of changing trend.
Nifty Future:
Selling are not suggested 11786-11796 if you are not acted yesterday.
below to 11715, it can more and selling pressure expected to continue.
ATR is till normal which means not started downtrend.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
