We were playing for the Target of 5180. We initiated long on 8th March at 5080. Nifty touched a high of 5168 (Nifty Future) on 12th March. Now Nifty struggles to go past 5150. Also it is trading at critical support levels, so it is better to book profits for now and wait on the sidelines till we get clear signals.
Trendz
Week : Up (Down Below 4920)
Day : Up (Down Below 4890)
Hour : Up (Down Below 5050)
30 Min : Up above 5135 and Down below 5120
15 Min : Up above 5130 and Down below 5120
If nifty opens gap up, then book profits and wait on the sidelines....
If nifty hourly close is below 5120 then it will go till 5080 then 5050.. Around 5050 - 5060 one could initiate a risky long....
Thanks
Heading towards the Target
In the last post I mentioned to go long around 5050 levels, Nifty opened gap up and traded flat in the range 5115 to 5095. The break out from the range was on the downside which took Nifty to 5070. It tested 5070 few times before heading to 5100. We entered Nifty at 5080. After touching 5100 in last hour of trade, it closed at 5088.
Keep a stop loss of 5030 for the target of 5180. Considering the fact that US and Europe closed in green, Nifty should be able to touch the target quite easily.
Trendz
Week: Up (Down below 4930)
Day: Up (Down below 5030)
Hour : Up (Down Below 4965)
30 Min: Up (Down Below 5000)
15 Min: Up (Down Below 5080)
Pivot Point
R2 5142
R1 5115
PP 5092
S1 5065
S2 5042
Thanks
Keep a stop loss of 5030 for the target of 5180. Considering the fact that US and Europe closed in green, Nifty should be able to touch the target quite easily.
Trendz
Week: Up (Down below 4930)
Day: Up (Down below 5030)
Hour : Up (Down Below 4965)
30 Min: Up (Down Below 5000)
15 Min: Up (Down Below 5080)
Pivot Point
R2 5142
R1 5115
PP 5092
S1 5065
S2 5042
Thanks
