TUESDAY SAW THE WELL DESERVED PAUSE TO THE 3 DAYS OF RISE IN NIFTY & AFTER THE INITIAL PAUSE OR A MILD PULL DOWN ON WEDNESDAY NIFTY IS LIKELY TO RESUME THE UP MOVE . SO, LOOK FOR SOME INTRADAY CORRECTION TO BUY FOR GOOD GAINS. ALTHOUGH THE CANDLE OF TUESDAY WAS THE HARAMI RED CANDLE ENGULFED WITHIN THE BIG GREEN CANDLE OF MONDAY, YET AS LONG AS MONDAYS LOWS OF 5822 SPOT IS NOT DECISIVELY BREACHED THIS TUESDAY BORN HARAMI MAY TURN OUT TO BE A SUPERMAN IN THE FORM OF AN INSIDE CANDLE OR A 7TH NRB CANDLE TO SHOW A REMARKABLE RISE ONCE MONDAY 1ST JULY HIGH OF 5904 SPOT IS DECISIVELY BREACHED.
SO, FOR SAFE INTRADAY TRADERS ITCHING TO SHORT THE MARKETS, CAN DO SO ON THE RISE OF NIFTY TOWARDS MONDAY’S HIGHS BY HAVING A STOP LOSS ABOVE 5905 SPOT TO REVERSE FOR LONGS TO RUN WITH THE BULLS IN CHASING THE BEARS AWAY. HOWEVER A BREACH OF MONDAY’S LOWS OF 5822 SPOT WILL SEE BIGGER FALLS AS THE HARAMI CANDLE OF TUESDAY WILL DISPLAY ITS HARAMI POWERS.
FOR INTRADAY TRADING OF NIFTY FUTURES ON WEDNESDAY, 5848 IS THE CRITICAL SUPPORT A DECISIVE BREACH OF WHICH MAY SEE A VOLLEY OF SHORTS TO DRIVE DOWN NIFTY FUTURES TOWARDS 5834 INITIALLY & THEN TO 5816 OR EVEN TO SUB 5800 TOWARDS 5788 FUTURE LEVELS. HOWEVER IF 5848 OR MORE IMPORTANTLY 5830 IS HELD BY THE BULLS, THEN THERE IS EVERY POSSIBILITY OF NIFTY FUTURES MOVING UP TOWARDS 5878 TO 5888 LEVELS. A BREACH OF 5878 CAN SEE 5891 TO 5896 ABOVE WHICH ONLY BULLS WILL BE VISIBLE AS THEY WILL CHASE THE BEARS AWAY TO SEE NIFTY FUTURES RISING TOWARDS 5909 FOLLOWED BY 5935 TO 5939 FUTURE LEVELS.
SO, FOR SAFE INTRADAY TRADERS ITCHING TO SHORT THE MARKETS, CAN DO SO ON THE RISE OF NIFTY TOWARDS MONDAY’S HIGHS BY HAVING A STOP LOSS ABOVE 5905 SPOT TO REVERSE FOR LONGS TO RUN WITH THE BULLS IN CHASING THE BEARS AWAY. HOWEVER A BREACH OF MONDAY’S LOWS OF 5822 SPOT WILL SEE BIGGER FALLS AS THE HARAMI CANDLE OF TUESDAY WILL DISPLAY ITS HARAMI POWERS.
FOR INTRADAY TRADING OF NIFTY FUTURES ON WEDNESDAY, 5848 IS THE CRITICAL SUPPORT A DECISIVE BREACH OF WHICH MAY SEE A VOLLEY OF SHORTS TO DRIVE DOWN NIFTY FUTURES TOWARDS 5834 INITIALLY & THEN TO 5816 OR EVEN TO SUB 5800 TOWARDS 5788 FUTURE LEVELS. HOWEVER IF 5848 OR MORE IMPORTANTLY 5830 IS HELD BY THE BULLS, THEN THERE IS EVERY POSSIBILITY OF NIFTY FUTURES MOVING UP TOWARDS 5878 TO 5888 LEVELS. A BREACH OF 5878 CAN SEE 5891 TO 5896 ABOVE WHICH ONLY BULLS WILL BE VISIBLE AS THEY WILL CHASE THE BEARS AWAY TO SEE NIFTY FUTURES RISING TOWARDS 5909 FOLLOWED BY 5935 TO 5939 FUTURE LEVELS.
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