Potential positive price action on the NIFTY -- The NIFTY has been on a steady decline over the past few days and this seems to be finally bottoming out. The %R (which is a good indicator of potential reversal in such cases) seems to confirm this. I would play this with a 2-3 trading session horizon with a target of 8200.
Note
Target hit today. Hope you all had a profitable trading week based on this call! Happy New Year!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.