February 16, 2018

Nifty can Bounce Sharply towards 10759-10829 Very Soon

Nifty opened higher at 10537, registered low 10518 and bounced sharply to register day’s high 10618 but failed to sustain at higher levels and declined back to register day’s low 10511 and finally closed 44 points up at 10545.

Yesterday, personality of the bounce from low was not suggesting any bigger reversal for new high and possibility of one more low below 10276 was still there in coming days from present levels or from 10637-10829.

For short term, 10498 was breakeven point and minimum bounce till 10590 was expected which further can extend towards 10637-10829. Buying was suggested with stoploss of 10477 (some points below 10498) expecting minimum target 10590 which further can extend towards 10637-10829. Nifty registered high 10618 without breaking below breakeven point. Now, let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/nifty-can-bounce-sharply-towards-10759-10829-very-soon/

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