Nifty : Strongly Uptrend or Weakening at Peak

The NSE Benchmark Nifty Given a surprising Tower Rally and become a very attractive one to look.
when nifty closed above the major trend line of 5200 and moved forword that was the clear sign of bullish force and the sign was appeared in nifty weekly chart . now nifty is in a strong bullish zone and we can expect more return from nifty but for a shorter term view i suggest to wait for the 38% currection and then we can enter a long position for target of 6000.

             Nifty is breaking all resistances and moving ahead is the nice sign of buy on deeps and this is the golden example of Trend Reversal. currently we are looking some weakness is Establishing in up move. a technical indicator RSI indicating the slightly weakness in strong buying but this is not conformed till then we can expect a good upmove in nifty. and also we have to admit that indian Budget is the Trend Setter and also a power full trigger for every stock, commodity and currency..

           The bottom line is that nifty may go upside more.... but don't enter till nifty corrects with at list 38% .


Happy Trading
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Mr. Yuvraj Kalshetti
MY TRADING CORP.
Omerga. 02475-251888

Posted in: Daily