- Key Level@10175
When to execute
Safe Traders should look to buy once index starts moving above 10200 with stops below 10175
Risky Traders can buy close in the zone 10180-10185 with stops below 10175.
Target - 10230 - 10275 - 10340
Risky Traders - We are in at 10188 just above the zone of 10180-10185. Keep in mind risk is 10175 - 15 points to lose.
We are in the train.
Safe Traders - You are also in @10200
Risky Traders took the train from terminal station. You need to trail the stop loss at cost which is 10185-10188 so you lose nothing.
If you are feeling scared to enter then try going long above 10210 else close all position if it moves below 10185.
Went close to 1st Target at 10230 - session high was 10223 & made day low@10175.
Just a comment -till the time now 10175 is intact on upside - nifty is open downside for 10120-10090 zone next. Any move above 10175 shall be first hint for upside.
As suggested 10120-10130 is good support so likely we should book profits from selling on top @10150-10160
Look As said It is close to the bottoms -selling is not advisable below 10120 -hardly some points downside
we booked yesterday in selling from 10150-10160 holding stops above 10175 at 10120-10130 & today bounce of 50-60 points.
Take Care - This post is already closed. So, I won't be putting any more updates for nifty. Thanks
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ