Positional call for NIFTY

Please see the below chart.

As per this chart, it indicates a possible Cup and Holder pattern. It is conformed once Nifty crosses 4700 mark again. If crosses then possible upper target will be 4900 to 5200. As far as the lower side is concerned 4100 level is very important. If breaks 4100 then possible lower target will be 3800 to 3600.

By side have a look on to the volume. It's getting reduced day by day. so if we get a day with high volume, then the trend will be decided. If RSI crosses 50% mark then one can go positional long on Nifty for the upper targets mentioned above.


Happy trading.