NIFTY Has given the breakout as we have discussed it earlier only.
yesterday we said it will take a minar pull back to downside and just after that market bounced back from the pull.
It shows the bulls are in power. Traders are targeting buying low Points.
As we can see on charts Nifty has crossed all hurdles of resistance. Now it might give a nice bull rally.
Reason:
1. RSI is in Bullish reason and showing good strength.
2. Tripple Bottom shows nice comeback from 19250. shows hard bullishness
3. Tripple bottom neck line break out is about to happen. it will happen today and you can go buying options.
4. SGX Nifty alreasy showing nice opening strength today.
5. PCR = 1.34
6. FII Data showiing bullishness.
Verdict:
Market is bullish if it opens high wait for it to come down and then buy low.
Plan:
Sell Nifty 19500 PE and Buy nifty 19600 CE
yesterday we said it will take a minar pull back to downside and just after that market bounced back from the pull.
It shows the bulls are in power. Traders are targeting buying low Points.
As we can see on charts Nifty has crossed all hurdles of resistance. Now it might give a nice bull rally.
Reason:
1. RSI is in Bullish reason and showing good strength.
2. Tripple Bottom shows nice comeback from 19250. shows hard bullishness
3. Tripple bottom neck line break out is about to happen. it will happen today and you can go buying options.
4. SGX Nifty alreasy showing nice opening strength today.
5. PCR = 1.34
6. FII Data showiing bullishness.
Verdict:
Market is bullish if it opens high wait for it to come down and then buy low.
Plan:
Sell Nifty 19500 PE and Buy nifty 19600 CE
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