Nifty 5 Intraday outlook update

Nifty 1 hour, 4 hour indicators showing reversal signals.
Nifty daily in oversold mode.
Nifty 5 minutes important trendline & channel break.
Fib retracement 50% around 8490.

Thus, one can long nifty near 8450 SL 8440 Target 8490

Risk Reward: 1:4

In case nifty breaks below the SL of 8440,
sell nifty below 8440 with 8450 SL target of 8410.

Yorum:

Buying SL hit at 8440 loss of 10 points.

Sell initiated at 8440 with SL of 8450. Target achieved at 8410. Profit 30 points.