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indiamarketoutlook
Dec 1, 2017 4:27 AM

Nifty view Short

NSE:NIFTY1D
Nifty 50 IndexNSE

Description

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Nifty
CMP 10253

Look to sell for target 10160 / 10120
Idea being previous support may act as resistance now...

Stop loss if goes 10280

Take care & safe trading...!!!

Trade closed manually

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Nifty made a low of 10201.50

CMP 10206

Nifty is again at 50 day EMA

We look to book profits again and will see how it does on a closing basis

Remember this is an important zone and bulls and bears will try to defend themselves... hence it could tend to confuse a lot of people.

But once clarity emerges who the winner is we could be looking for the next big directional movement of 400-500 points...

Take care & safe trading...!!!

Trade closed manually

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In morning trade Nifty respected 50 day EMA. However Once 50 day EMA (around 10209) got taken out decisively, Nifty falls and falls and falls...




Made a low of 10119.55 so far.
Target achieved

Hope u guys made the most of what Nifty chart told us...!!!

Enjoy ur week end
Trend AnalysisChart Patterns
Comments
hotpot64
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Bounce / Short covering upto 10250 quiet possible.
hotpot64
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If it reverses from 10130 then it will go to 10250 after that it will reverse again for fall till 10050
indiamarketoutlook
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@hotpot64, wowie... looking to capture each and every move...!!!

So Are u expecting a gap up on Monday


hotpot64
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@indiamarketoutlook, if spot comes in 10090 - 10100 then with 40 point SL I will go long
hotpot64
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If spot comes to 10090 - 10100 now then I will go long
hotpot64
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Thanks for the call booked :-)
hotpot64
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though I think if goes below 10200 then another 100 points can come.
indiamarketoutlook
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@hotpot64, yes you are right... below 10200 can trigger bigger fall...


But For risk management and today being a weekly close, We booked profits just to ensure we close the week end on a positive note....

Don't wont to spoil the mood...!!! :-)


Enjoy the week end...!!!
Happy trading...!!!
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