Nifty Analysis for 9th Nov

8 nov 2021

NIFTY

⏺ 4/1 Hourly - As Nifty breaks the long time Resistance, we can see good up move after 18090
⏺ 15/5 min - same as above.

✅ Support - almost everywhere, 18000,17960
❌ Resistance - 18090

📈 Trend? - 100% up
(what this basically means is that you should avoid treading against the trend *whatever it may be* as it will not give you much points)

↕ Market movement - 250-300 pt

❗❗ Watch out for :

--> We can see a good up move above 18090, so be ready with calls.
--> This uptrend is after a very rough down side bleed. So it's likely to stay. So avoid taking puts.
--> We can easily see 18300 levels if we see strength in 1st hour of market.
--> Book profits as late as you can as the chance of a down move is very less. Don't target less than 150 points if you are taking trade before 10:45 am.