07 June Intraday Chart

- Nifty Gapped up today and broke the TL of last 2 days correction. It was a clear early indication of long although it's a policy day.

- Post RBI policy announcement, markets made new high/low but again fall back in range for some time.

- Breaking initial range rallied further and print the new high of this year.

- Long and Short entries marked on chart by circles.

06 June Intraday Chart

- ORB broke downside but again fall back in range; Initial range was hardly 23 points.

- Price retraced almost 80% of initial days range and triggered the short trade.

- Short entry marked on chart by circle.

03 June Intraday Chart

- Nifty Gapped up and hit 8262, which is a Mid point of R1 and R2 pivot. 

- Short trade would be a prudent as Nifty didn't cross 8262 whole day.

- Short entry marked on chart by circles.

Nifty hit the Golden Ratio

Nifty hit the 8243, i.e 61.8% of 9119-6826 this week. Also this week Tuesday was a May month end and Nifty closed above 5 MHEMA after long 14 months which indicates the strength on higher TF now.

Coming week would be an interesting week to see whether price could surge ahead or show some correction.