So Nifty Closed above 8489 which was an important level...Closing above this means Bulls wants to close above 8540 on friday.
So Strategy should be if nifty trades above 8494 levels in the morning then go for long for spot targets 8512-8524-8538 then 8573-8585-8607
If it nifty trades below 8489 levels then targets are clear -8473-8466-8457-8441-8433-8421-8409-8389.
As of now trend seems to be bullish.... But Huge OI at 8500 CE levels (51 lac) and 8500 PE (30 lac) so lets see if Bulls add shorts on 8500 PE then for this series 8489 important level.
So Strategy should be if nifty trades above 8494 levels in the morning then go for long for spot targets 8512-8524-8538 then 8573-8585-8607
If it nifty trades below 8489 levels then targets are clear -8473-8466-8457-8441-8433-8421-8409-8389.
As of now trend seems to be bullish.... But Huge OI at 8500 CE levels (51 lac) and 8500 PE (30 lac) so lets see if Bulls add shorts on 8500 PE then for this series 8489 important level.
Nifty went to the level as mentioned in the post all targets achieved.......whereas it retraced from that level 8607 and now weekly close is negative....does anybody wants update on nifty
ReplyDeleteNifty Superbly following magic levels....from 8489 ..sharply fell down to 8000 levels..Wah!!
ReplyDelete