#193 Nifty Update: A pause on the way

As we mentioned in our article update, Long was our call on nifty after Fridays move. Safe traders were recommended to go long above 6212 and i hope all are long. but todays move shows a pause on upside move. I am sure it is a short term pause!!! Nifty might hangover around these levels before moving forward. As circled  a perfect Doji has been formed today which also can be somewhat a dragon fly which is a sign of weakness but as its not the clear top but within yesterdays range, it could be jst a short term weakness rather than long term. 6123 is a strong support on daily charts while 6055 is the support for the week. As we have been saying Midcap are still a gud buy for portfolio holders. Indicators on daily charts are surely giving buy sign while weakly chart indicators are still flat.

Our Strategy: HOLD our Long nifty call initiated at 6176 (6212 for safe traders). tgt 6450 

Leave a Reply

Your email address will not be published. Required fields are marked *