Buy the dip medium-term opportunity on Nifty

18 May 2018

As the 1D Channel Up broke this week (RSI = 43.705, Highs/Lows = -130.6286, B/BP = -168.1442), we should be looking at the next support levels for a possible long entry. The 1st is located at 10,552.30 and the 2nd at 10,475.19 (cross 5H SMA200, 1D SMA50). Utilize both on a tight SL for TP = 10,840. If the 2nd support breaks, it will be a short opportunity and we will see 10,146.21.