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On Monday, much before the market opened, I had hinted at a reversal this week [Happy Days are Here Again]. It was mentioned that 'it is highly likely that the level of 3800-3840 on the Nifty will be protected'.
The results are in front of you.
Not only this, but another big confirmation is an Island reversal. Before you say, 'Oh no, not again,' let me tell you that yes, we do in fact have an Island reversal, but this time it is to the upside.
Readers of this blog are too familiar now with what happens after an island reversal, and how far can one go. For targets, refer the post of July 7, which gave possible upside targets.
For your continuous support, here is a free call: ICICIBANK - Above 649 target 690+.
For your continuous support, here is a free call: ICICIBANK - Above 649 target 690+.
1 Comment:
Dear Abhijit.
Agree with you that this is not a classic Island Reversal. So I am a bit hesitant to call this an Island Reversal, because we had closed or rather almost closed the Gap yesterday.I view it with a different perspective. Our views(path taken)differ yet we arrive at the same destination !!! Cheers!
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