April 21, 2018

NIFTY weekly charts

- trend is up on weekly charts
- very good support at 10000
- H&S is seen and right shoulder may be getting completed.
- if true, then a retest and break of 10000 is possible

- if markets sustain above 10600, then rally to 11000 is possible (H&S invalidated)

Option writers are playing it very safe for next month... their short positions are built in 10000 put and 11000 call strike price... makes sense.

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