NIFTY : I hope all of you enjoyed very much my last post on nifty move. What next ???
Weekly & Monthly Charts : Weekly charts are still bullish.Nifty weekly & monthly charts shows target 6020-125 above 5635-60 in coming months.Not only technical indicators but reform actions taken in last few days will also help Indian markets to (out)perform Indian markets.
Daily charts : On last Friday Nifty jumped showing long term breakout with gap up opening of near 100 points. Once nifty completes & sustains above our initial targets of 5625-50 we can see further upside towards 5695-5730-50 to 5830-5910-60.All technical indicators are in bullish mode however some profit booking in range of 5625-60 not ruled out.
Weekly & Monthly Charts : Weekly charts are still bullish.Nifty weekly & monthly charts shows target 6020-125 above 5635-60 in coming months.Not only technical indicators but reform actions taken in last few days will also help Indian markets to (out)perform Indian markets.
Our view : Book profit near 5650-5700 & reenter on dips near 5450-5500 with stoploss of 5400 for above said targets.
