Nifty - Double bottom at 7900. Watch out for W pattern.
As mentioned 25 days ago in a separate post (Link below) that Nifty might make double bottom at 7900 and 'W' pattern might emerge with an unbelievable target of 8600-8650. Let's see how it unfolds. Invalid only closing below 7850.
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Market might not go straight up. Closing above 8080-8100 is crucial for confirmation of uptrend & fast upmove towards 8175. Will fall towards 7980-8000 if fail to cross 8050-8080 zone. Manage your risk.
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As mentioned, Nifty faced resistance at 8080-8100 zone. This is an expiry week. Fast moves are expected.
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Nifty is up 250 points in 3-4 days from the lows. Yesterday, by closing above 8100 it has given confirmation to the bulls. Now all dips should be bought. Nifty will retest 8070-8080 zone. Go long only on dips.
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Booked some profits at 8175-8180 zone. Will enter again at around 8080-8100.
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Booked half profits at 8265-70. Closing above 8280-8300 is crucial for further gains.
