Nifty- Short Term Bounce till 8180-8200 zone Against 8090-8094

NSE:NIFTY   Nifty 50 Index
A short term bounce can be expected if it holds in the zone 8105-8115 without taking out 8090-8094 zone which is important. 8094 was yesterday's low.

Also, be careful of the risk downside, below 8094- can keep a buffer of 4-5 points like 8089. If the zone of 8090-8094 is intact, then short term bounce could be expected 8180-8200.

Trading Strategy
Look for support in the zone 8105-8115 as buying opportunity after it moves above day's 8124 with stops at 8089 for targets in the range 8180-8200 zone.

Downside 8050-8055 is also a support zone .
Trade active: 14:45 Hrs 20th Dec2016

Day's High@8123.75 - did not go above 8124 so call was not active

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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