MoneyMunch.com

Yesterday we sent to subscribers : sell NF 11789-11798 with stoploss of 11824 targets 11724 and 11611-11578

First target has been achieved.

Nifty closed at S. 11624 which give it move.
short trader should keep stop-loss 11679 above as trial.

Intraday R. 11659 nearby (seller can come to this point intraday) with intraday support @ 11575 nearby.

NIFTY FUTURE:

Pivot S 11702,

intraday targets 11668-11676 and this is support also.

suppose to not break 11670 below, then its can bounce uptp 11724-11748 and upto resistance 11770.

Below to 11670, NF is not can fall 100-130 points.

Resistance is too far at 11776.

Nifty ATR is at 111 which means if short term downtrend started, then 11635 -111 = 11524 below.
Double Top is not clear still.

• RBI monetary policy on April 4.
• The selling in the last hour.
• Forming ‘Bearish Engulfing’ pattern on daily chart .
• The short term trend of Nifty is weak.

NOTE: Both charts are for SPOT NIFTY.