NIFTY : 5680.4
Hi,
Readers,
As was mentioned in
last blog Nifty showed reversal pattern and wanted to rebound, it gave reversal
with volatility and touched 5688.
The technical pattern
works !!!
Now What :-
Those who are long are
advised to book profit on rise to 5750 – 5800 and step aside. However there is
bullish head & shoulder pattern on hourly charts but it is always advisable
to play the bear market rallies with utmost care & pick the profits.
Wait for the next
course of action as and when it happens.
Note :- Overall long
term trend of Nifty has not yet turned bullish and is still down and this
reversal move should be treated as a technical rebound only.
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