NIFTY UPDATE

Dear All,

The last view of Nifty has given perfect trades in the range of 10600-10300 levels. Now, Nifty is consolidating in this range.  For positional trades, I would suggest that one should wait for the breakout on either side.

Below 10300-275 levels, Price can test 10000-9800-9600 levels. Being 10000 will act as a strong trendline confluence area and psychological support too.

Buy only above 10600 level’s for the possible upside target of 10900 levels.

Immediate resistance levels at 10500-10600 levels.

Intraday traders can take trades in this range of 10300-10600 levels.

Daily Chart of nifty is attached for your reference.

Daily Chart

Cheers

Sid

NIFTY 50 – IS UPTREND STILL INTACT ?

Dear All,

Last 4 sessions was really interesting so many things came up. Awaited budget, Sell off in US, Which leads to more fall in equity across the globe.

But the important question is whether uptrend is still intact?

Lets see the Chart !

Nifty 50 Daily Chart

But good news for Bulls are that uptrend is still intact which is clearly visible on charts. Price is making HH and HL and price perfectly took support at fib 78.6 % retracement and at lower trend line of the channel.

Now till the time 10280 – 10000 level is intact trend will remain up..

The resistance levels are 10600-10750-10900.

Cheers

Sid