WILL NIFTY50 SHOW REVERSAL FROM SUPPORT LEVELS ?

18 Apr 2024

Symbol - NIFTY50

CMP - 21980

NIFTY50 witnessing heavy selling and now slipping below 22,000 round level.

Market sentiment is weak but according to my analysis, Nifty is now trading at major support levels.

22000 - 21930 is good support range for Nifty. I believe Nifty will take support from current levels & will show a reversal from here soon.

Dow Jones is at good support levels, Crude is showing reversal from upper levels etc. are the triggers that will help Nifty to go higher from current levels.

Hence I'm taking Future long positions in Nifty at CMP 21977 - 21980

I'll add more position around 21920 - 21930 levels, if comes & hold with 21880 SL.

Targets will be 22170 - 22300 - 22430

19 Apr 2024

Trading ditutup: stop tercapai

Opened gap down because of Israel - Iran war news.
CMP 21862
SL reached. Trade closed.

19 Apr 2024

Catatan

Nifty CMP - 22170

Nifty opened gap down because of war news flow which triggered my SL but after that Nifty is showing strong reversal & one way rally from support zone & now It's trading at 22170 which was first target of my long position.

22 Apr 2024

Catatan

CMP 22318

Second Target 22300 hit.

23 Apr 2024

Trading ditutup: target tercapai

NIFTY CMP 22447

Although my SL was hit in volatility & I did not make long position again but the view was right and analysis was on point.
Nifty rallied one way from 21900 to 22450 in no time.