As I shared in my daily Nifty Outlook post I have mentioned that 11830-50-70 is a perfect level for buying. In the sideways market, should not take a very short term view, wait for a lower level to come and show courage to buy from the lower level.
Today Nifty bounced from it's 20 DMA @ 11820. 11760 To 11850 is a major supports for Nifty on daily chat and Nifty is holding this support very nicely. So unless and until this support will not break my long term view on Nifty is positive. I don't prefer to trade Nifty for intraday but whenever It will come to its major support I will take an as a buying opportunity.
Also if you observe US DJI is @ major support area which is 26050. If DJI will hold this support on closing basis then it will be a positive for the Indian market as globule prospective.
Tomorrow If Nifty will hold these supports: 11860-11900 then my short term trades are 11960-12010 and 12040.
1st Fresh Buying Opportunity: If Nifty will sustain above 11900
2nd Fresh Buying Opportunity: If Nifty will come to 11860-11870
Today Nifty bounced from it's 20 DMA @ 11820. 11760 To 11850 is a major supports for Nifty on daily chat and Nifty is holding this support very nicely. So unless and until this support will not break my long term view on Nifty is positive. I don't prefer to trade Nifty for intraday but whenever It will come to its major support I will take an as a buying opportunity.
Also if you observe US DJI is @ major support area which is 26050. If DJI will hold this support on closing basis then it will be a positive for the Indian market as globule prospective.
Tomorrow If Nifty will hold these supports: 11860-11900 then my short term trades are 11960-12010 and 12040.
1st Fresh Buying Opportunity: If Nifty will sustain above 11900
2nd Fresh Buying Opportunity: If Nifty will come to 11860-11870
