Nifty- Look the Zone 8540-8550 (Look Left Trade Right)

AbhishekHSinghCMT Updated   
NSE:NIFTY   Nifty 50 Index
Always look left & trade right- this is the most important lesson a trader should learn from the markets.

Nifty yet again reached very important zone 8540-8550 which again can halt its down move-so be little careful in selling side & plan your trades accordingly.

Trade active:
14:18 Hrs 13th Oct2016


Nifty Day's low@8541

Vow- it turns from the zone 8540-8550- Support is the showing its magic again.
Trade active:
15:07 Hrs 13th Oct2016


It has good support at 8550 -any move below that shall put nifty into some more pressure
Trade active:
15:19 Hrs 13th Oct2016


I love NIfty

Thank You Guys - Have a nice day ahead. Let us meet next trading day on 14th Oct2016 for some more excitement.
Trade active:
08:35 Hrs 14th Oct2016

Key support-8550 -with that support -we will look a bounce in nifty to gap down area of 8650-8660 of yesterday.

Going below 8550 - will take nifty down to 8480-8490 zone

Or with 8550 as support shall look for 8610-8620 as target zone
Trade active:
10:05 Hrs 14th Oct2016

Good Morning, All


As expected target zone for 8610-8620 -Nifty made close by high@8600 -started falling.
Trade active:
10:28 Hrs 14th Oct2016


Nifty made a low@8550 exact & turned again-look how 8550 is again & again pushing nifty up.
Trade active:
10:35 Hrs 14th Oct2016


No more long positions going below 8540 -Nifty becomes bearish likely will target 8480-8490 zone
Trade active:
11:29 Hrs 14th Oct2016

Last Price-8581

Nifty is doing time pass before the market breaks down -90% chances are big for Nifty to touch 8480-8490 below 8540-8550. There is a triangle forming- likely it will be a pressure move downside.

Trade active:
12:27 Hrs 14th Oct2016


If it goes above 8600 -then Nifty will target for 8650-8660 zone else we will wait for 8550 to break for selling for targets 8480-8490 zone.
Trade active:
13:35 Hrs- 14th Oct2016

Nifty again turned very close from 8600 levels, making a high@8597 & had a fall till 8580's
Price is doing sideways -taking a buy is with risk element so take care of your stops -likely avoid trading on upside because of more risk.
Trade active:
13:55 Hrs 14th Oct2016


Eaten stops so many of them at new high@8604. So, I said -it's risky to take buy in this market.
Trade active:
14:33 Hrs 14th Oct2016

Last Price@8592

Current High@8604

Going below 8575- Nifty looks down & have a good potential downside till the zones 8480-8490.
Pressure will be seen once nifty goes below 8550 also

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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