-> RSI making positive divergences in last 3 bottoms.
-> RSI is at oversold levels similar to previous bottoms in last 1 year.
-> This is a classical divergence and low risk entry point for medium term.
-> Shorter term trendline from recent lows gives a zone of 8000-8100 as support.
-> Dollex 30 has been one chart which has helped spot the major trend changes and supports in much easier way.
-> Dollex 30 closed at 3357 on Election Day. Also in the last 1 year it has made lows around the 3350-3400 mark.
-> All the lows equivalent to Nifty 7200/7540/7960 were closer to the 3400 mark.
-> Dollex 30 is now just 50-70 points away from this zone. Indicating a good entry point.
Strategy –
Medium Term and Positional Traders can buy Nifty at 8078/8118 and add if it dips to 7948-8001.
Stoploss a closing below 7878.
I dont think it will break the bottom i mean low of this week 7997 above 8400 it will confirm for more big targets.
This could also be a good time to accumulate large cap stock with a medium to long term view. Will keep sending the top bets in coming days.
A non leverage trader can also buy Nifty BEES and Junior Bees.
Lets hope markets move in the direction our money is placed !! Please do your own research and risk management. Consider above post as educational or timepass :)
-> RSI is at oversold levels similar to previous bottoms in last 1 year.
-> This is a classical divergence and low risk entry point for medium term.
-> Shorter term trendline from recent lows gives a zone of 8000-8100 as support.
-> Dollex 30 has been one chart which has helped spot the major trend changes and supports in much easier way.
-> Dollex 30 closed at 3357 on Election Day. Also in the last 1 year it has made lows around the 3350-3400 mark.
-> All the lows equivalent to Nifty 7200/7540/7960 were closer to the 3400 mark.
-> Dollex 30 is now just 50-70 points away from this zone. Indicating a good entry point.
Strategy –
Medium Term and Positional Traders can buy Nifty at 8078/8118 and add if it dips to 7948-8001.
Stoploss a closing below 7878.
I dont think it will break the bottom i mean low of this week 7997 above 8400 it will confirm for more big targets.
This could also be a good time to accumulate large cap stock with a medium to long term view. Will keep sending the top bets in coming days.
A non leverage trader can also buy Nifty BEES and Junior Bees.
Lets hope markets move in the direction our money is placed !! Please do your own research and risk management. Consider above post as educational or timepass :)
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