After 1 st hour red candle nifty had a nice pull back
to touch the high of today almost.
Two possibilities are there.
nifty crosses today's high and breaks the channel and in that case we can see target 1 and target 2 to be achieved.
However after that we may get sufficient retracement to rise again.
if nifty does not breaks the channel and unable to cross today's high we may get flat correction
which may break today's low.
Stochiastic is in over bought condition in hourly time frame.
If you observe closely buying in over sold condition and selling in over bought condition are proving profitable(in hourly time frame) now a days.
hence before buying please decide which should be your stop loss.
don't forget to like my post.
follow me to get updates
to touch the high of today almost.
Two possibilities are there.
nifty crosses today's high and breaks the channel and in that case we can see target 1 and target 2 to be achieved.
However after that we may get sufficient retracement to rise again.
if nifty does not breaks the channel and unable to cross today's high we may get flat correction
which may break today's low.
Stochiastic is in over bought condition in hourly time frame.
If you observe closely buying in over sold condition and selling in over bought condition are proving profitable(in hourly time frame) now a days.
hence before buying please decide which should be your stop loss.
don't forget to like my post.
follow me to get updates
