Nifty
Running correction as expected yesterday. What next? Strategy remains the same, 'buy on dips'
Support can be found at 15000 and target can be around 15500.
Let me remind you that today is an expiry so I'd wait for the second half before taking a trade in Nifty.
Daily charts show that Nifty has taken support on 5 MA and have bounced back from there. We have to wait to see if this bounce is going to carry or Nifty needs to correct a little more.
What I understand is that a lot of positions have been exited due to the correction which means that Nifty should rise without a doubt but you never know what's hidden in this market.
Support can be found at 15000 and target can be around 15500.
Let me remind you that today is an expiry so I'd wait for the second half before taking a trade in Nifty.
Daily charts show that Nifty has taken support on 5 MA and have bounced back from there. We have to wait to see if this bounce is going to carry or Nifty needs to correct a little more.
What I understand is that a lot of positions have been exited due to the correction which means that Nifty should rise without a doubt but you never know what's hidden in this market.
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