Bounced from the zone 8740-8745. Likely we should wait till RBI policy is out at 2:30 pm otherwise -you will be chopped
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.
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
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
Bang On Target -We Picked Nifty Again at the Bottom@8750.85
Only Bad News -Market is about to close.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ