Short Term Nifty View

7 Eki 2018

I recommend to Buy Nifty for short term at current levels. However one can wait to settle the price, although a sharp technical pullback is expected of atleast 33% of the swing low. Support for Nifty will come from 10100-10200 range.
As the 150 day exponential moving average is still upward sloping and above the 200 day exponential moving average i don't think that there is any sign of trend reversal. Nifty is in a Long term bullish trend which will continue in my opinion.

My strategy for the coming week in nifty is to buy nifty at current levels and accumulate nifty on every fall until 10100 levels are not breached.
Targets will be as follows :
1 10500
2 10800

Strict stop loss should be placed at 10000.
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5 Ara 2018

İşlem kapandı: hedefe ulaştı

As Nifty has hit both the targets it's time to close the long position in nifty as of now.. until 11000 is not breached on the upside convincingly..
Elections results are also coming out on 12th of december so it is going to be volatile if bjp loses there might be another correction coming.. Hence till then any long positons should be closed now..

Enjoy yours profits.. if anyone has taken positions from my post..
If anyone interested in more such fundamental and technical calls please visit our website wp.me/Pa17ZN-4