Nifty
Chart is showing some confirmation of a bottom formation in nifty. In a row nifty made a higher lows above 4718 at 4725 and 4747.For this confirmation of bottom Nifty has crossed and even managed to close near 4900 mark.
The double top at 5174 is solid resistance for time being. If 4700 is broken by any chance and closes below it then all longs should be unwinded.
Spot nifty a close above 4890 would have given a sure shot victory on the long side but still managed to close near that level.
Still we have carried forward our positional longs which was initiated in the range of 4740-4773.
Long bets are on Axis bank, Hdfc ,Larsen, R com
Chart is showing some confirmation of a bottom formation in nifty. In a row nifty made a higher lows above 4718 at 4725 and 4747.For this confirmation of bottom Nifty has crossed and even managed to close near 4900 mark.
The double top at 5174 is solid resistance for time being. If 4700 is broken by any chance and closes below it then all longs should be unwinded.
Spot nifty a close above 4890 would have given a sure shot victory on the long side but still managed to close near that level.
Still we have carried forward our positional longs which was initiated in the range of 4740-4773.
Long bets are on Axis bank, Hdfc ,Larsen, R com
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