AbhishekHSinghCMT

Nifty- In the middle of ((b))-wave- Let us have patience

NSE:NIFTY   Nifty 50
441 1 9
(( ))- Means circled wave in the chart
From the lows of 7915 -this whole sequence could be ((a))-((b))-((c)) structure- nifty             could be running into a time consuming b-wave pattern & likely seems a range bound price action             between 8275 on top & 8050 at bottom. Once upper boundary@8275 gets breached then upside zone of 8350-8400 shall become reality.

Chances are less on the downside, but we all know markets are crazy- so let us try to move with the markets.

Trading Strategy
Break of 8050 one can take sell positions with an Intraday target of 7990-8000 having stops above 8100

Failure to break 8050 on lower side if goes close in the range 8050-8060- Sustaining above 8075 with stops below 8050 can be initiated as buy position

A last strategy could be break of 8275 on top- long positions can be initiated for target zone 8330-8350 & going above 8350- shall look for 8380-8400 zone.

Related Analysis Attached below
Trade active: 10:15 Hrs 19th Dec2016

Last Price@8120

There are 2 more sub key levels for upcoming sessions- 8150-8160 -If Nifty sustains above the zone with stops of recent low@8100-8105, then 8200 - a short term up move can be seen & going above 8230 also can be seen as addition of long positions.

Sell positions can be taken once 8100 is broken for targets 8075 -Keep an eye of 8050-8060 which very important zone for bulls
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
India
United States
United Kingdom
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out