Friday, 23 February 2018

Nifty At a Make-Or-Break Point; Top 3 Stocks Which Could Give Up To 12% Return

Posted by suhani varma on Friday, February 23, 2018 with No comments



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The current scenario is a make or breaks one for the Nifty as if the index cracks below the 10275 mark on a closing basis it would lead to a larger structural breakdown on the daily chart.The Nifty50 went through wild moves in last hour of trades in an otherwise subdued F&O expiry day on Thursday. The Nifty just managed to hold above the important 10300-10275 support area.

It is not only above the February 6, 2018, lows but also corroborates with the rising trendline support zone. The current scenario is a make or breaks one for the Nifty as if the index cracks below the 10275 mark on a closing basis it would lead to a larger structural breakdown on the daily chart.

In fact, a Head and Shoulder pattern breakdown is on the cards for Nifty. However, giving some hope to the bulls, Nifty holding above the mentioned support area could aid the market to stage a meaningful recovery from current levels.

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