Nifty view cautious...!!!

Nifty
CMP 10345


Cross-over observed around 10351

Target 10280 / 10160 initially

Stop loss if goes closing 10380

Safe trading...!!!

Comment:

1st target of 10280 achieved...

Comment:

looking at daily charts and one can understand the Importance of 10280
20 day EMA is at 10279

Close below 20 day EMA will signify further weakness and open further downside to 50 day EMA

Take it step by step

Comment:

Nifty last traded price 10305

On expected lines for the last 2 hours Nifty has given its due respect to 20 hr EMA

However now on a 15 min chart it is at 20EMA

Resistance zone...Might again come down

Consider selling again with 10320 as SL


Best luck

Trade closed: target reached:

Nifty
CMP 10193

We are close to our target of 10160.

Consider booking profits as per risk appetite...!!!

Happy trading...!!!

Comment:

Nifty makes a low of 10150 so far... target of 10160 completed...

Nifty 50 day EMA is at 10144... Do not rush to trade... Allow markets some time to give the next trading idea

Happy & safe trading...!!!