Nifty channeling

In my last post i mentioned about probable evening star pattern on 9th June and its still holding its importance on Nifty chart. But to support its significance we have got two more components now. Firstly, We got shooting star candle as squared in the chart and secondly, now Nifty has confirmed its path in the channel with is trading downwards. Though my overall mood is positive for a view of 6 months but minor correction was expected as i mentioned in last post and my first tgt 8081 has been achieved while now my second target is active which is 7935. But the stop loss remains the same at 8265 on closing basis. May be a intermediate support might be at 8040 which is channel support line. Being BREXIT nearby, its always advise to hedge your position where as in our case we can buy 8300 CE to hedge our short on Nifty.


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