rahulmishraind

rahulmishraind

Nifty is undergoing a good correction. The retracement may go deeper if we fail to respect the Rejection block level. There are 2 trades. The first one will get triggered at the rejection block for a small pullback to gaps (imbalances). The second trade is tentative and will depend on market reaction

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Reliance is at its key support and it can give a good retracement towards the highs if it does not break the previous low. Keeping the previous low as SL, one can look for a small long position

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INFY is looking for BuyStops below the the target price. Price is likely to start looking for the Sell side liquidity targets soon. Even if SL gets taken it may be possible that the price fails to push higher.

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The imbalance should provide support to price and help it reach the given target

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Accumulate for a target of 1180 and beyond. Happiest minds has consolidated a lot and now is bottoming out.

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DXY would continue its downside to the round level of 100 if it remains below 102.300. Refer to the chart for info.

rahulmishraind

1.271 is now becoming a nearby support. The Cable is trading in a bearish channel and the bearish momentum is now fizzling out. The DXY has had a decent correction and its about time the Cable capitalizes it. With the recent low as Stop-Loss, look for 1.284 above which we can see 1.291