Long if weekly close is above 170 Probable Cup & Handle breakout
Long above 9.8 for quick 40% return
BB expanded after much squeeze Tg 24, SL 11
Long term demand zone & trend line support may restrict further downside after steep correction * Risky but favorable RR
Nifty dropped sharply from supply zone. This is a possible short set up. One need to wait for convincing break of 8450 on weekly close. Target of 8000 / 7750 may come. One may infer it in other way round & may go long with SL of 8450 on weekly close basis. But this possibility seems to have less favorable as P/E is near 24.
Breakout above 51 will lead to long cup & handle breakout for TG 88
SPX can move by as much as 300 pts if sustains above 2120
Nifty is in downward channel & not at top trend line. Will it react to 8440 or BO