Technical said, Long above 8330 & downside target 8100... But Nifty open below 8100 on Monday. We post on 29 June for expected target 8630 then 7600-7500 Link Nifty Major Update (29-06-15). Mostly people turned to bullish due to Nifty's 8630-8330 range in last 50 trading days. Breakdown start Bloodbath. Now, we are assuming that Nifty is bottom out at 7667. TJ's Ellipse & MOB & 100 Week EMA are indicating Bottom done for Wave 4. Now for long position keep Stoploss 7769 (Monday's low) & Target 8900. We will update blog on any change in view.
Technical said, divergence on daily chart & Nifty may unable to sustain above 8600. Major trendline support seen at 8450. We are expecting strong reversal from 8450-8500 zone. Keep Stoploss below 8450 for target 8700 or above.
Technical said, Chart seen damage due to divergence in oscillator. Nifty hit 8606 but unable to sustain above 8600. Now, 8500 will be Crucial level. If Nifty open gap-down & hold 8500 then we will expect 8700 level. Below 8500 target 8200 will be open for HnS.
Technical said, 8300-8350 "Buy Zone". Nifty hit 8564 but chart seen damaged due to divergence in oscillator. If Nifty unable to breach & sustain above 8600 then we may see below 8321. HnS pattern also visible on the chart.
