Tuesday, June 02, 2015

Is This a Trend Reversal ???? Bull Market Over ????

Dear All,

>>> Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Yesterday (On Monday) we have advised our clients to book 50% of the long, as it breaks some important support levels as mentioned on chart. Yesterday when nifty 8424 and Bank Nifty 18645 and 18600 - when it breaks - we asked less risky traders to book full or atleast 50% of the long.

So today market can't hold any of the supports like 8270 or 8245 and fell heavily. Next support like 8185 and 8102 may be on card.

>>> Bank Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Yesterday (On Monday) - We have alerted our clients - when BN Spot breaks important support 18645, send message to book atleast 50% profit on Long taken at 18360.

Today when BN Spot breaks 18230 - we advised to exit remaining long also.

Now above chart - shows 17980 is an important support, if breaks - then price may try to fill the gap left on the downside.