NIFTY OPENED GAP UP ON MONDAY & TUESDAY AND CLOSED ABOVE 50 EMA FOR 2 DAYS BY GAP UP OPENINGS AND RECHED 61.8% RETRACEMENT EASILY IN 2 DAYS ITSELF AS TOLD HERE :- CLICK AND REACHED NEARER TO DAILY PIVOT LEVELS TGT OF 5125 .97 BY MAKING A HIGH 5118.65 ON FRIDAY, SO STILL STEAM LEFT FOR 78.6% RETRACEMENT AS CLOSED ABOVE 61.8% , AFTER REACING 5174 BE CAUTIOUS AS LOT OF PEOPLE LONG IN EARLIER RALLY , WE CAN EXPECT SELLING @ THOSE LEVELS > IF NIFTY SUSTAINS ABOVE 5174 AND CLOSED ABOVE 5200 THEN WE CAN EXPECT RALLY, BUT SUSTAINING ABOVE THESE LEVELS IS NOT SO EASY AS LOT OF SELLING PRESSURE CAN EXPECT @ 78.6% .
ATTACHING EMA CHART ALSO , 50 EMA NOW @ 4967.37 , BELOW THIS LEVEL HUGE CORRECTION, BUT PIVOT LEVEL IS 5090 SO, WE CAN EXPECT PANIC SELLING BELOW PIVOT ALSO , FOR A TGT OF 5000
RSI NOW @ 61 IT MAY REACH TO 70 BY THIS WEEKEND ,STOC AS WELL AS MACD ALSO READY TO CUT SIGNAL IN THIS WEEK ,AS YOU CAN WATCH CORRECTION FROM THAT LEVEL: -
AS PER TIME ANALYSIS , NEXT REVERSAL WE CAN EXPECT ON MONDAY & WEDNESAY REVERSAL { 8.3.10 & 10.3.10 } EITHER A HIGH OR LOW ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND, WE CAN DECIDE THE TREND BY OBSERVING THESE TWO DAYS EITHER WE ARE GOING TO BULLISH OR BEARISH
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