Reason : Upside fuel has exhausted. Thus, small correction upto 7,400 then long move will be initiated as its 38.2 FIB support level. Long position will be holding till 8,500.
Timeframe : Whole process is of 2-3 months. First sideways then shorts position and at last long position.
Timeframe : Whole process is of 2-3 months. First sideways then shorts position and at last long position.
Note
Nifty to go further high upto 8,050-8,100. Where it exhaust three way move started from 7,550. Will look for shorting opportunity there.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.