CHART-II
- Nifty futures trading above 6091 will be positive for the index.
- If sustains above this level NF should move to the top of the range or to the top of the broadening pattern.
CHART-I
- The support line of the broadening pattern gives support.
- But things will favour bulls only if it trades above 6091. I am expecting NF to get resisted around 6091 levels and test the support area of 5939 - 5961 during this week.
- A sharp recovery is possible only if NF trades above 6091 with good volumes.
Dear Sir,
ReplyDeleteafter seeing post +152,target 6402,i bought nifty at 6316(minifty-2lots) & holding the same.shall i hold till expiry or exit,if so at what price?
@dhiksuchi
ReplyDeleteIf Nifty futures breaks 6000 again then it may take sometime for NF to come back above 6200.
@dhiksuchi
ReplyDeleteFor a breakout trade always keep the breakout point as stop loss. or Keep a support or resistance level just below the breakout point.
One more suggestion I posted that chart because of the breakout. If the breakout is not valid we should not be in that trade. You will get a better entry later. You will also save your capital.