AbhishekHSinghCMT
Short

Nifty- Happy to catch the top@8020's- What Next?

NSE:NIFTY   Nifty 50 Index
542 3 9
Its a complex irregular correction going on since lows@7915. From previous update, "Use the bounce 8000-8025 to sell"- Nifty             made last sessions high@8022 & slipped below 8000 mark.

What Next?
Likely we should not take any long positions unless 8055-8065 zone is taken out convincingly as updated last because zone 8050-8060 was intact for several bounces & now same zone shall be acting as resistance zone .

Trading Strategy
Next support should be close to 7900-7920 in the zone of previous low@7915. If that zone holds, then look for a bounce again to 8000-8025 & Sell again if falls below 8000 with the recent swing high as stops in coming session, keeping in mind-it should not take out 8065 above our head which is critical level now.

Use the Bounce 8000-8025 to sell-Buy only above 8060- Click the chart & use load bar feature

Trade active: 12:57 Hrs 26th Dec2016

Last Price@7912

Likely we will avoid long positions as 7900 was broken down so let us wait for a new low in the zone 7860-7870's. Any sustained move above 7925 or dipping down in the zone 7850-7870 we shall come back to see for a possible bounce.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thanks for update on How to Nifty Trade?.
Reply
u played very well last trading session
Reply
@VimalVashisth, yes, 8050-8060 is an important zone, so I always take chances near to key levels
Reply
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out