IGI Logo

Nifty

As anticipated Nifty yesterday scaled comfortably above the 18700 option OI cluster as it maintains its upward oscillationtowards18850. The ‘Harami /Doji’ formation confirmation seems to be set as the price closed comfortably above the 18680level. Sofar,the price action has been trending well within the ‘Broadening Pattern’ while recent development also displays a risingwedgeformation awaiting confirmation. Both the patterns are yet to conclude its negative implications & hence existing trendstopshould be now revised higher at 18605 for ongoing momentum longs. Option clusters for the week state 18700-18800asanimmediate hurdle while 18500 remains an important support. Slippages below 18510 could quickly transcend intoachangeintrend. Hence fresh longs could be added further until 18605 holds

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer