Expecting a short term up move in the NIFTY index

NSE:NIFTY   Nifty 50 Index
Potential positive price action on the NIFTY -- The NIFTY has been on a steady decline over the past few days and this seems to be finally bottoming out. The %R (which is a good indicator of potential reversal in such cases) seems to confirm this. I would play this with a 2-3 trading session horizon with a target of 8200.
Comment: Target hit today. Hope you all had a profitable trading week based on this call! Happy New Year!


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