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

Nifty 50 IndexNSE

Description

⋅ Dec 20, 2016 4:22 AM

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

⋅ Dec 20, 2016 9:16 AM

14:45 Hrs 20th Dec2016

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

Comments

krppijain

⋅ Dec 22, 2016 7:37 AM

where are you sir.. no update for last 2 days really missing your update

WaveTalks

⋅ Dec 22, 2016 12:16 PM

@krppijain, Hi, I was very busy -Shall try coming soon. Regards

nirav5

⋅ Dec 20, 2016 9:17 AM

Thanks Abhishek.

WaveTalks

⋅ Dec 20, 2016 9:19 AM

@nirav5, Welcome Nirav

ashpats

⋅ Dec 20, 2016 5:57 AM

Nifty broke below 8090. Is it shorting time

WaveTalks

⋅ Dec 20, 2016 9:15 AM

@ashpats, Yes but 8050-8060 is strong support as said above - in between one could have got 20-25 odd points.

ashpats

⋅ Dec 20, 2016 9:20 AM

@AbhishekHSinghCMT,

Great.Thanks

AMBRISH

⋅ Dec 20, 2016 5:30 AM

Thank You , good risk reward ratio.

WaveTalks

⋅ Dec 20, 2016 9:15 AM

@AMBRISH, Call was not active as it did not go above 8124