In Daily chart, NIFTY ended with perfect Doji, most expected pattern before all important RBI policy. Let us catch the policy with chart.
In daily chart NIFTY closed below 5EMA, MACD has given selling cross (not shown). But a closer look at the 30 min chart says that NIFTY may move up. So, what should be the strategy?
CCI of 5 min and 30 min is negative and below 100 and expected to be move up along with RSI. Today's down move could not breach support level. So, a upmove may be pending.
Above 5865 NIFTY may target 5878/5886/5905.
Above 5905 NIFTY another round of up-move may unfold targeting higher levels 5935/5970.
But is that all? We think NO.
Daily TF is not strong enough to support huge upmove until closes above 5930. And NP-SAR of tomorrow is 5876. So, watch out that level (5875-5880) too where SHORT may be initiated with small SL with developing trade setup.
Wish you happy trading !!
In daily chart NIFTY closed below 5EMA, MACD has given selling cross (not shown). But a closer look at the 30 min chart says that NIFTY may move up. So, what should be the strategy?
CCI of 5 min and 30 min is negative and below 100 and expected to be move up along with RSI. Today's down move could not breach support level. So, a upmove may be pending.
Above 5865 NIFTY may target 5878/5886/5905.
Above 5905 NIFTY another round of up-move may unfold targeting higher levels 5935/5970.
But is that all? We think NO.
Daily TF is not strong enough to support huge upmove until closes above 5930. And NP-SAR of tomorrow is 5876. So, watch out that level (5875-5880) too where SHORT may be initiated with small SL with developing trade setup.
Wish you happy trading !!
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