A tough war at the Border Line of Nifty between Bulls and Bears!!! Last two session has brought some important pattern of Candlestick out which is known as "Bullish Counter Attack" as circled which is that a bears Close and Second Bull candle Close are the same level which has happened on Nifty and Sensex Today. And interesting all this action is taking place at 200 DMA which is at 6000 so we can say that War is at Borderline and Bulls have came back with a force at the right tym. But will they able to enter back the borderline and overcome bears??? Fingerscrossed!!!! This spill on Index was largerly due to global factors such bond defaulter or you can say weak earnings at the DowJones Index. But for us what matters is 6000 mark which is a Psychology level and also a strong level of 200DMA. We did mention to go long on our last post But sl which was at 5998 has been broken on intraday level and not on closing basis. We have been mentioning to keep SL on Closing basis but anyways still you havnt missed the bus as its standing jst near to where you left.
Our recommendation: We recommend to Hold longs or stay on long side with revised tgts of 6060/6131/62114/6263 revised sl:5960