Good Morning All,
Today we will Check about NIFTY,
Enjoy Trading, Trade Safe, Trade Wisely !!
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Disclaimer :
The Analyst is a SEBI Certified Investment Advisor and Global Market Expert having Vast experience of Financial Markets in India and Across the Globe. Running Analysis Services and Advisory since Last 6 years for clients across the world in Stock Markets, Forex, and Commodities.
Contact Details ::
Today we will Check about NIFTY,
Markets are Rallying Hard after Brexit, I have alerted to my International Market clients about this rally too early, when every other analyst was finding reasons to So Short on Market.. I clearly told Markets are in Bull Run and There is an opportunity to Buy on all Dips.. My Recent trades in DOW Jones, DAX, FTSE, FTSEMIB have geerated massive returns in last few days.. For Domestic Markets I was long since a long time.
While all Indices globally are showing Bull Run on charts also, I don't understand why the so called big analysts on Channels are shouting caution again and again and keeping the small traders away from Market. Don't they see what charts are clearly showing..
Let's Visit the Chart Directly,
This Nifty Daily Chart shows clear breakout from a falling trend, which is confirmed by retesting the falling trendline. The Index was moving in a rising channel till yesterday and Yesterday it broke out of the channel resistance to give more & stronger upside.
While breaking out of the falling trend, The Index formed a Chart pattern Inverted Head and Shoulder. The Neckline is placed around 7980 levels whereas the bottom of the Head was around 6850, giving a height of approx 1130 points. Nifty Spent some time to break out from the Neckline area and then reversed after breakout to retest the Neckline. After retesting the Neckline price was pushed higher to confirm the strong resistance has become strong support.
Considering the fact that Head and Shoulder Target comes around 1130 points above 7980, We get a price target of 9110 region which is near the previous high of Nifty.
Recommendation :
Keep HOLD on all Nifty longs with a Target of 9110.
BUY NIFTY on all dips with a Stoploss around 8510 for current conditions, with price targets of 8650, 8840 levels. We will revisit the trade again later.. But Our Target will remain intact.. 9100+
This is the reason, why I have suggested buying Nifty 9000 Call of Dec Series.. which is almost tripled in Value.
Follow Strict Risk Management Before Entering the Trades and Consult your Investment Advisor for guidelines. "Do not jump in the trade" without considering the risk.
Enjoy Trading, Trade Safe, Trade Wisely !!
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Disclaimer :
The Analyst May or May not have trading positions or Investments in suggested Instrument, The Trade is Long Term and the Analyst may recommend the trade to his clients time to time for short term trading. short term reversal trades May be advised in this duration and it will be according to the charts.
The Analyst is a SEBI Certified Investment Advisor and Global Market Expert having Vast experience of Financial Markets in India and Across the Globe. Running Analysis Services and Advisory since Last 6 years for clients across the world in Stock Markets, Forex, and Commodities.
Contact Details ::
WhatsApp & Telegram +91 8275 298 208 / Email : 4x.magician@gmail.com
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