Nifty- 8765-8770 Shall be key to open the lock for upside

I always suggest to every trader - look left & trade right. Zone 8767-8770 was previous hurdles -which could become the key for the lock allowing Nifty to move up & kiss the channel resistance zone 8820-8830 as per earlier report mentioned below.

Regards,
Abhishek H. Singh, CMT

Trade active:

12:50 Hrs 4th Oct2016

Trading@8752
Bounced from the zone 8740-8745. Likely we should wait till RBI policy is out at 2:30 pm otherwise -you will be chopped

Trade active:

14:22 Hrs 4th Oct2016 -
As usual -Before RBI Policy -Market Becomes volatile so likely I said -we should & watch. One thing to be noticed Nifty yet again turned from 8766 levels -repeated 3 times now. Going above 8770 -Likely this time -we should sail through upside, but be careful to put strict stop loss in a day's low- after all trading in the markets is risky.

Trade active:

14:36 Hrs 4th Oct2016

Trading@8765

Policy is out

Do not panic & over trade -put stop at day's low 8735-8740 Trade for 8800-8820 - or if you can hold with 8700 stops. Likely I will come back

Trade active:

14:57 Hrs 4th Oct2016

Trading@8764

Have Patience All- Do not panic as said earlier - if it falls to 8740-8750 still looks good - some one who wants to take long position -can take post falling to 8740-8750 zone & later bouncing back above 8770 for targets 8800-8820

Trade active:

15:14 Hrs 4th Oct2016

Trading@8772

Bang On Target -We Picked Nifty Again at the Bottom@8750.85

Only Bad News -Market is about to close.