“BUY LT
ABOVE 1525 TGT 1545/1565”
LT is showing correction since past few sessions and also
sustaining above lower trend line support level 1420. Currently it has formed
reversal pattern on the short term charts and trading below the resistance
level of 1525.Breakout of its resistance level may show recovery in it where
traders can expect targets of 1545 and 1565 while major support of 1500 can be
placed as technical stop loss.
CANDLESTICK view: bullish after bottom gap up
The first two black days and the gapping down third
black day create a market with an extended downtrend. The fourth day is a
strong white day that shows there might finally be some weakness in the
decline. The fifth day gaps up and closes near its highs creating a strong
white candlestick. It now appears that the market overextended itself to the
downside and a reversal of the prior trend has begun.
Nifty settles above 8,750 mark ,Market Enters Into Bullish Trend, Go Long At Every Dip In The
Market
Today,
The Sensex ended with a gain of 109
points at 28,452. The Sensex opened at
28,372 touched an intra-day high of 28,532 and low of 28,363.The Nifty closed with a gain of 42 points at 8,786.
The Nifty opened at 8,754 hitting a high
of 8,819 and low of 8,754.Now Technically, Indian Stock Market is in positive
trend and traders should go long at every dip in the market. Traders can hold long
positions in market for now, Nifty may see some immediate resistance at 8867-8888
levels but these are not very strong resistance and overall market sentiments
would remain positive. Every correction would be an opportunity for traders to
go long in the market. Near term targets for Nifty would be 8900-8950-9000
levels and BankNifty would see levels of 19800-20000 levels after some
consolidation.