market sentiment turned bearish after deewali
stoploss for positional Nifty short trade modified to 6326 short advised at 6360..
Immediate support for nifty spot may be at 6171 then 6081 .candle sticks pattern is showing that panic amongst bulls is increasing gradually see length of red candles is increasing .
Bank Nifty failed to sustain above 200 dma next target will be 10990 then 10450..
Flat to negative opening is expected ….market is trading in bearish pattern after deewali ….means trading making lower swing highs and lows so do not trade opposite till waves are forming like this ..6200 is bottom of uptrending channel at hourly chart to break that huge volume sell will be required so expect some range bound trades at 6200 level in Nifty futures …
Trade in Nifty futures as per these levels
Buy at / above: 6282 Targets: 6297 – 6317 – 6336 – 6356
Stoploss : 6256
Sell at / below: 6256 Targets: 6241 – 6223 – 6201 – 6182- 6156
Stoploss : 6282
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Trade as per trend and as per your trader
Be ready to book losses as you are booking gains .
This basic chart is showing that rising wedge spotted in nifty futures and possible near term supports as per trend line drawings will be at 6166 5973 and 5877 …
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market sentiment turned bearish after deewali
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