On Friday 17 Aug, in this post --- ??? OPPORTUNITY advised to buy if nifty gives weekly close above blue trend line ( SEE CHART ). But nifty didn't gave clear cut break out above the blue trend line.
However it closed above the previous swing high on weekly chart. So this market is now BUY ON DEEPS from long term perspective. So any fall should be bought.
Right now the trend on hourly chart is down / sideways. While on daily and weekly chart it is in up trend. So any fall / correction is buying opportunity. The stop loss for short term investors ( few weeks to months ) will be daily close below 5294, while for long term investors ( for more than 2-3 years ) stop loss will be weekly close below 5032.
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