Technical Analysis Of Nifty 50:
Nifty 50 Seems To Be In Bullish Bias. It Has Given A Breakout Above The Previous High With A Gap Up Opening. Looks Like We Will Have A Small Hurdle At 11305 And If Nifty Sustains Above This Level, There Is A High Probability Of Nifty Going To 11530. So One Can Go Long With A Stoploss Of 11200.
SCENARIO 1
Nifty 50 Seems To Be In Bullish Bias. It Has Given A Breakout Above The Previous High With A Gap Up Opening. Looks Like We Will Have A Small Hurdle At 11305 And If Nifty Sustains Above This Level, There Is A High Probability Of Nifty Going To 11530. So One Can Go Long With A Stoploss Of 11200.
Scenario 2
Nifty 50 Had Given A Breakout Above The Previous High. Is The Breakout Is A Runaway Gap Or Exhausting One. I Don't Have Any Idea Of What Market Could Do In Next Couple Of Weeks. So In This Scenario We Can Short Nifty @ 11305 For A Target Of 10930. Stoploss According To Your Risk Management Levels.
