NIFTY WATCH

In my last post titled Crossroads, I had written 4464 is the level to watch out for. Nifty having taken out this level now has come to a buy mode. The first target above 4464 was 4629 which was achieved yesterday. The daily charts indicate Nifty in overbought zone. Hence we may now see a sideways movment between 4464 and 4629. Trading strategy will be to sell near 4629 and buy closer to 4464. The next move upwards will only come once we close above 4629. This will take us to 5158. Break and close below 4464 will bring Nifty down to 4329 and 4194.

Happy Trading