Nifty Analysis

29 Tem

Nifty formed Bullish engulfing candle and moved above key EMAs.

Call may be entered after retracement of 61.8% of recent swing.
Stoploss just below 38.2%.
Target till 25th July Gap down.
This gives 1:3 risk reward ratio.
Timeframe 1-5 days.

30 Tem

Not

1:1.5 risk reward ratio achieved when Previous swing high was reached.
Risk averse traders may exit. Others may Trail stop loss to cost-to-cost.