After a volatile profit booking in last two weeks, we could now kick start a rally tomorrow on Nifty index. As i had been mentioning 7777 as crucial level, today we did breach it for few seconds but we have maintained it as support on closing basis and still remains further. On weekly chart that level is now trend line support of previous downside channel. Now talking about some chart patterns, as of now it seems that we completed 2 cd Wave correction of flat today. Now we if we cross 7909 which was high of wave b in 2nd wave then a 200 points rally could be confirmed from there to 8100. Even the indicators have crossed over positive for a confirmation to our view but its always safe to be hedged. 7700 PE should be bought to hegde by long recommendation given in previous two post which has targets of 8055. Lets hope we get confirmation tomorrow.

 

2 thoughts on “Nifty could kick start a 200 points rally tomorrow!

  1. Prashant Nikam

    Sir I read your blogs regularly and impressed very much. Do you provide nifty calls service. If yes I would like to join you. Thank you…!

    Reply

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