From the last 55 days, #Nifty continue running in the bullish form on Gann Chart and gain over 1000 points. Till now we did not receive a single bearish indication. Last time, we show this type of momentum in Nifty in 2016. In 2016 Bull run around 81 days and Nifty made a gain of 1324 Points.
Today Nifty closed with a minor gain. From the 1 Aug 2018 till now Nifty gained 224.70 points. Many short players already made shorts in Nifty and they are completely running in oddesay condition. Even on charting pattern Nifty not indicate any specific trend. Right now we have only 2 marking levels, which may give some definite trend. The 1st one is 11624 & 2nd one is 11516. In this weak, if Nifty came below 11516 marks, then we can see some weakness. And we can expect 11188 marks in near sessions. But above 11624 marks, we have no any specific marking to upward.
Disclaimer – This commentary is only a technical study. Please consult with your analyst, before making any trade. I am not liable for any loss or profit.
Today the Indian stock market moves in a tangled range. During the day, Nifty breaks down support but not sustain below this mark and in the 2nd bar (5M) return from dug. Like I had expressed a possibility in the morning that even though the morning market showed a downturn, but it can not be believed and it was also seen. Please check my previous update.
Today #Nifty open between its Pivot & 1st Resistance levels with mild selling pressure. Even this pressure has not specified any weakness for the day. 11558 Mark is the important level for the day, below this, we can see a negative trend in Nifty future (Cm). And Slip up to 11482. 11606 Mark act as a hardel resistance for the day, above this, we can expect only 11633. MFI indicate overbought and Volume Index shows negative stability.