Nifty took a reverse from 10120 and ended above 10200. For the time being the bearish trend has ended and up move has resumed.
The trend is likely to continue at least for next 2-3 trading sessions. Bank Nifty has maintained the trend and helped nifty to regain the lost ground.
Nifty future is moving towards 10300. If in this week it is able to close above 10334, which is previous week close figure, then further rally even surpassing all time high is possible. Watch this number and a daily close above 10334 will lead to a rally towards 10490.
If at all Nifty again closes below 10150, it will be a disaster for an imminent fall up to 9980.
Bank Nifty has to close above 25700 to resume it bullishness and move above 26000/26500. Again if it breaches 25150 it will lead to a serious fall up to 24800.
Yesterday all exited from PEs and today we are in long positions. Accumulated CEs at 10207 which was critical number. We will hold on to it till we get a sell signal in Nifty. That is the power of perfect number game in the market.
Bullish or bearish, we have to be trendish!! HA HA..
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