Good morning friends,
This is hourly chart of Nifty and this is really am impressive chart. I have quoted for the target of 18100 in the last session but I was not expecting this to come so early. This creates the momentum.
Will this invite for new all time high?
Fine, it is giving the sense every time but somehow that momentum has yet to come. Suppose if we got impressive today also then we may have great chance.
In that way today seems to be a make or break day. Either Nifty will manage top and strong close or it will give us at top.
Failure of any top around 18200 can invite the retest of 17900 again.
Cross over of 18200 can push Nifty towards 18350 levels.
Let us see how it shapes and where is the trading opportunity. If opens with gap up then it will even more difficult. Gap up may result one intraday dip around 10 am. It will be hard to say if it is a dip to buy or sign of weakness. Be careful.
Happy Trading.
