Market Outlook :
-Nifty Futures Trend Deciding level is 8745 (Intraday Traders),
-Nifty Futures Trend Deciding level is 8745 (Intraday Traders),
NF Trend Changer Level 8660 (Positional Traders)
-Nifty showed impulsive move as we were expecting as it closed above 8577 and also shark pattern last leg formation and gann impulsive date also as discussed in Weekly anslysis. Also Nifty has broken the 247 points range of past 26 days as shown in below chart.
-Bulls above 8723 can see move till 8851/8900. Bulls need to hold 8723 on closing basis else it can be termed as fake breakout.
-Nifty to turn volatile as day progresses. Trade as per market trend.
-Nifty spot if manages to trade and sustain above 8780 level then it is likely to show some upmove and if it breaks and trade below 8700 level then some profit booking can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.
Nifty Level future
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Up ↑
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8870
|
8835
|
8820
|
Down ↓
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8770
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8750
|
8700
|
Action
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SL
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TGT
| |
Buy above
|
8750
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8700
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8850
|
Sell below
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8680
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8720
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8600
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