Market Context -
As this is last week of April, I am expecting both
the indices and overall market to remain bullish. Major companies/stocks have
given good result in past week expecting some long moves now.
Although PCR (Put/call ratio) is slightly bearish
but it is not a major concern as it can turn bullish any time after the
positive sentiment in the market.
My view for this week is Bullish to sideways.
Nifty50 –
Flat to bullish opening
can give us a long opportunity for targets up to 17767.
Any big gap up of 100-150
points, don’t chase it. Let market come at our levels of 17600-17620 then we
can plan for a long trade.
IF Nifty opens gap down,
we will only take a short trade after it breaks it PWH in thirty minutes or one-hour
candle.
Chart for reference-
BankNifty-
If BankNifty opens flat to bullish near 42200, we
can plan for a long trade for targets up to 42380, 42500.
Chart for reference-
Abbreviations
used in Chart-
PDH – Previous day High
PDL – Previous day Low
PWH – Previous Week High
PWL – Previous Week Low
PDC – Previous Day Close
NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL
PURPOSE. TRADE WISELY.
Comments
Post a Comment