Nifty

Tug of War Continues!

Tug of war continues between the bulls and bears! The game has been tough since February but the bulls seems to be getting favorite on traders list! Each try to short markets have burnt fingers in last two weeks. Today when Bears had almost go the rope in their zone, bulls came with the full force and pulled all the short players away in just one hour of trade. Technically, Nifty candles has emerged to show the small downside path which it is following as of now. Indicators on daily charts are still in overbought zone but the weekly indicators are up again supporting upside momentum. Though confirmed Long is above 7750 but stock specific we shall stay long. On the upside we have exactly closed at trend line resistance so opening tomorrow is crucial. Now, on the upside we have strong green line resistance which is at 7777. So now on downside we have trigger support at 7520.

Strategy: Long above 7690 and Short below 7520

 

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