'Cautious' Upside bias for NIFTY50 amidst geopolitical tensions.
Amidst geopolitical tensions Nifty 50 ended with a doji indicating supply was drying up. And Nifty landed on a support amidst heavy selloff due to geopolitical tensions like N korea -U.S, India-China border standoff and also 11 Aug 2017 Friday, being the last day of the week.
Technically, Nifty ended with a 4th wave on a support and might resume on upside after some intraday consolidation on monday.
I think the supply has dried up but demand is yet to come in. I have an cautious upside bias in Nifty50.
P.S. Long term uptrend is still intact in NIFTY 50 as I write this article.
Technically, Nifty ended with a 4th wave on a support and might resume on upside after some intraday consolidation on monday.
I think the supply has dried up but demand is yet to come in. I have an cautious upside bias in Nifty50.
P.S. Long term uptrend is still intact in NIFTY 50 as I write this article.
