Phoenix Nifty Analysis : For a change today I am sharing Nifty Analysis without Fibonacci Series. As you should be aware by now as what all Indicator I use to do the Nifty analysis. Look How beautifully Technical works in every kind of Market.
Nifty broke the Fibo Level at 11233 and started falling massively and the next Target was scheduled at 10437. However on Last swing, Nifty took support from 200 DMA and bonced back - Similarly we predicted that Index will also take support this time as well. Exactly it happened in the Similar Fashion and Index bounced back sharply from our said Levels. And Look at the beauty at the above - Index made hight right at the 450 DMA on DOT and trading closed on Friday.
Now the Analysis becomes very simple for all of you. Nifty is bullish above the 450 DMA, which is around 11100 Levels and if Nifty is not able to cross this zone, then we will see again downfall till 200 DMA. And 200 DMA is around 11750.
Once Nifty able to cross 11100, then the same resistance level 11100 will become support for Index. And we can initiate our Longs for the next Target which is Next Fibo and I am sure that you all are aware as what is next Fibo. On the other hand, If Index fails to stay above 11100, we will see fall till 200 DMA and breaking of this will lead to the next Fibo Target which is 10437. Hitting 10437 is very good for swing Traders and Positional Traders.
In shrot to tell - we are going to have a lot of fun over this week.
Positional Trading : We are holding Yesbank , Vodafone Idea and Arvind Fashion. Continue to hold these positions with the stop loss above your buying zone. We are expecting Upper Circut in one or Two Stocks. We are also holding Tightly these positions. We will start the Fresh Shopping for the Month of October by Wednesday.
Happy Learning and Earning -
Stock Phoenix,
Welcome to world of Technical Investment and Trading.
Nifty broke the Fibo Level at 11233 and started falling massively and the next Target was scheduled at 10437. However on Last swing, Nifty took support from 200 DMA and bonced back - Similarly we predicted that Index will also take support this time as well. Exactly it happened in the Similar Fashion and Index bounced back sharply from our said Levels. And Look at the beauty at the above - Index made hight right at the 450 DMA on DOT and trading closed on Friday.
Now the Analysis becomes very simple for all of you. Nifty is bullish above the 450 DMA, which is around 11100 Levels and if Nifty is not able to cross this zone, then we will see again downfall till 200 DMA. And 200 DMA is around 11750.
Once Nifty able to cross 11100, then the same resistance level 11100 will become support for Index. And we can initiate our Longs for the next Target which is Next Fibo and I am sure that you all are aware as what is next Fibo. On the other hand, If Index fails to stay above 11100, we will see fall till 200 DMA and breaking of this will lead to the next Fibo Target which is 10437. Hitting 10437 is very good for swing Traders and Positional Traders.
In shrot to tell - we are going to have a lot of fun over this week.
Positional Trading : We are holding Yesbank , Vodafone Idea and Arvind Fashion. Continue to hold these positions with the stop loss above your buying zone. We are expecting Upper Circut in one or Two Stocks. We are also holding Tightly these positions. We will start the Fresh Shopping for the Month of October by Wednesday.
Happy Learning and Earning -
Stock Phoenix,
Welcome to world of Technical Investment and Trading.