NIFTY Analysis
- If the recent low is not broken we might see this up move extending towards the resistance line of the channel. That is how price has behaved in this channel so far, so the cycle may get repeated again. But a word of caution for bulls is that price has not hit the channel bottom yet.
- If it is going to be a corrective up move dips will be opportunities to buy as long as price does not retrace too much. Price Closing above 5 Day High EMA and Week Low EMA will help bulls.
- S&P 500 EOD UPDATE
yes true nifty managed to close above 50 dma. Also on options side there was huge open interest addition in 4900-5000 put indicating strong support around those levels if in case nifty comes back.Your charts are near to perfection.
ReplyDelete