Nifty- Going Below 8750 -Shall Open Downside

NSE:NIFTY   Nifty 50 Index
337 4
Going Below 8750 -shall open downside for target zone 8690-8704 else it's likely to stay in the zone.
Trade active: 14:10 Hrs 26th Sep2016

Book 50% profit & Trail 50% with stop loss at cost of 8751
Trade active: 15:08 Hrs 26th Sep2016

How important some level could be -is evident from the level -8751- which was our trail stop & earlier breakdown level.

Currently Nifty trading at 8725 -likely it should touch 8700-8705 zone but market is about to end. Let us book profits & enjoy the day.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Abhishek ,

what do you think about 8770 as a resistance now if nifty moves up rather than 8750 ?
From where are you getting this level 8770- if you can let me know
Amar24 AbhishekHSinghCMT
Hi Abhishek ,

I am just a new learner . I saw your chart where you mark 8750 which includes wicks of candles as well I just eliminated those wicks as those are treated as rejected price if I am not wrong . Anyways its just a probability if Nifty moves up .
You are correct-wicks are always rejected areas -one gets good clues that if rejected on top- good selling could be seen & if rejected at bottom- good buying can be seen. Thanks -sharing your thinking as well.
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