as per previous post a downside support zone was marked in dotted rectangle and a movement upto 6350 was expected possible, after which I could not update market views.
nifty found base near 6900 and saw a major recovery to 8800.
there is bullishness on long term charts.
current view is support around 8300, max downside around 8000 i.e 6% from here.
long term upside is as given before i.e around 10500 i.e 22% from current nifty level.
therefore risk-reward ratio is still very good for long term investors buy on correction or market dips.
nifty found base near 6900 and saw a major recovery to 8800.
there is bullishness on long term charts.
current view is support around 8300, max downside around 8000 i.e 6% from here.
long term upside is as given before i.e around 10500 i.e 22% from current nifty level.
therefore risk-reward ratio is still very good for long term investors buy on correction or market dips.
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