While analysing the Daily charts of “NIFTY”, we found that it
appears strong -:
~ Nifty has recently made a Swing low which would again take
it to all time high levels as it has done earlier.
~ Nifty has made the last swing low by making “Piercing Line”
formation on the Charts.
~ Nifty has just bounced back from close to previous
resistance levels of 8400. As per “Theory of Polarity”, it has positive
implications
~ We have seen reversal in RSI which could further push
Nifty upwards.
Nifty can be bought on corrections in the range 8620-8660
for a target of 9200 with a stoploss of 8300 on closing basis. All the levels
mentioned in this Technical report are spot levels.
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