Nifty managed to cross 50% retracement today after 3-4 failed attempts. If we look closely, Nifty did breakout of Inverse HnS pattern as well.
So logically Nifty has targets as
T1 8229
T2 8325
T3 8417
It can reverse from any levels above. It would be good to take small profits at above levels who are long from sub 7600 levels
NIFTY:
Breakout above 8060-8097 Range is positive and it may test now 8229, and 8325 levels. Major long only above 8417. Earlier also mentioned that new buy only above 8060. It seems gap up will reward the trend followers who longed above today's breakout :).
USDINR:
Dollar is nearing strong support zone or previous breakout zone. It may give good bounce from support zones. Generally rise in USDINR brings fall in Nifty and both are approaching support and resistance zones. It would be interesting to see how things turn out.
64.8 and 64.5 is strong support zones. Watch out :).
Mostly all previous chart learning are working well as per expectations except Alpa Lab where volumes are lacking. One can book partial profit or trial SL on these positions now.
Reliance 835 to 890
OBC 130 to 138
VIMTA 64 to 70
Gruh 253 to 270
JK still waiting for move
Alpa Lab follow up move missing
DCB 129 to 142+
Note: Above charts are shared for learning purpose only and are not intended for some BUY/SELL tips.
So logically Nifty has targets as
T1 8229
T2 8325
T3 8417
It can reverse from any levels above. It would be good to take small profits at above levels who are long from sub 7600 levels
NIFTY:
Breakout above 8060-8097 Range is positive and it may test now 8229, and 8325 levels. Major long only above 8417. Earlier also mentioned that new buy only above 8060. It seems gap up will reward the trend followers who longed above today's breakout :).
USDINR:
Dollar is nearing strong support zone or previous breakout zone. It may give good bounce from support zones. Generally rise in USDINR brings fall in Nifty and both are approaching support and resistance zones. It would be interesting to see how things turn out.
64.8 and 64.5 is strong support zones. Watch out :).
Mostly all previous chart learning are working well as per expectations except Alpa Lab where volumes are lacking. One can book partial profit or trial SL on these positions now.
Reliance 835 to 890
OBC 130 to 138
VIMTA 64 to 70
Gruh 253 to 270
JK still waiting for move
Alpa Lab follow up move missing
DCB 129 to 142+
Note: Above charts are shared for learning purpose only and are not intended for some BUY/SELL tips.
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