So we broke out of symmetric triangle but cant get its break out target and ended below 5030 which shows quite a built up of pressure or in other way it may be a massive move upwards. Anyways levels hold the same for me in my first post. Today nifty had quite a choppy day and traded in the range. As per me it still looked weak(you can think other way too) but a breakout of this range can give the future direction. Interestingly if our market had traded on monday we could have seen near 4900 lvls which could have given us a nice trade.
By rule one must be cautious of this gap up. In morning I wondered that we may not be able to fill the gap today and it turned out true but still we got one more day. If we are really weaker we must close the gap or else further bias will be upward. Lets see how things pans up. Till then....
Happy Trading.
By rule one must be cautious of this gap up. In morning I wondered that we may not be able to fill the gap today and it turned out true but still we got one more day. If we are really weaker we must close the gap or else further bias will be upward. Lets see how things pans up. Till then....
Happy Trading.
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