Positional Call on Nifty Trade
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So we did not hold the ground and fall to 8280+ lvl and with this downtrend is likely to be completed and if we manage to hold 8260+ lvl on closing basis then uptrend will start...but today's closing do say we have more downside to visit..possibly to 8180+ lvl..but all goes with lvl 8260+ lvl...see u all tomorrow...
As expected we did not hold 8260+ lvl on closing basis and as long as this continue the downtrend will stay and with yesterday closing price suggest a further downside and also this time momentum is also increased , according to me we are likely to see further downside if this last chance of bull hope does not defend 8180+ lvl and this is very imp level as we started our up journey from this level since 30 Oct and Bull some how holds that lvl so for me if 8180+ lvl broken then further a downside of 100+ point cannot be ruled out so let see what we get on monday ...my sense is that we will hold but let see...
todays move with gap down opening and bull ran for cover up and bought NF back to 8200+ lvl and this closing of today did say as per price we will have one more up side bounce towards 8300 lvl and we might start up trend , but first lvl to come is 8250+ closing but chance of short from higher level is also high so I will wait and watch for proper side ...so tomorrow NF movement will be important ...not holding any view ...will be on neutral side ...I am not fully convince till we see two steps to come up...1) a closing above 8250+lvl and then 2) a follow of second closing above 8300+ lvl..will confirm uptrend ... which I will come to know tomorrow it is happening like that or not..till then let us just wait and watch.....see u all..
Nothing sort of happened and we just went down it turn out to be jackpot for Short seller...anyway trouble for longs are going to be if this level of 7970+ lvl tomorrow hold or not...as per price looks like this should hold but that we will come to know..so far nothing on upside ..as long as we are below 8100+ lvl on closing basis ...see you tomorrow
traders due to time constraints I will not be able to come regularly but will keep tyring posting my views so far as i know I tried to catch it well and hence I will continue the same but due to lot of work coming in office so not able to focus much here so that was the reason for not able to post my views for past 2 days.. so ALL THE BEST TRADERS and have safe trading ...
Now going as per view as I was mentioning the last hope for bull was at 7970+ lvl and see MKT did move backed smartly but technically we have reversed from it and went long but seeing the FII figures they have still not covered there shorts and looks like coming week we may witness some choppiness but on the other hand, DII's have played smartly and I think in coming week also they will act very strongly to take NF to high level...so I think we will move up side and bulls will continue there journey...keep a wtach at lvl ard 8180+ lvl on closing basis for this long to hold on...see u all next week some time ...hk
Next week I do not expect any big upmove..at present nifty is bearish and as long as it will stay below 8220+ lvl it is week and reverse is the case of bank nifty.. That seems to be strong and any up move will give a boost on nifty as well..but as per price looks like we are heading for upside and that will be supported if nf closed above 8220+ lvl...
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