Risky Traders can sell in 9810-9825 with stops above 9836 - Safe Traders Sell below 9790-9793 zone
Any move below 9790-9793 which was one of the desired zone for long trades for the day is important zone - If Nifty starts falling below that zone - we will look for short term melt down till 9765 - 9735 target levels which will fill the gap for the day. Enjoy!
X- level is important one which is 9853 but we become cautious above 9825 -if trade is activated below 9790 next & starts moving above 9825 without kissing target levels of 9765 atleast.
Note - Sell Call activates below 9790-9793 as mentioned above.
Target 1- 9765
Target 2 - 9735
Previous Update - 100 points from 9700-9800
Here we go right at the top@9817 - Risk Traders - Enjoy!
Day is about to end. have a nice day ahead.
Short Term Support Zone - 9775 to 9780 - Once it goes below 9775 - Nifty likely takes support@9755 or any move above 9819 High@14th Aug2017 will continue to 9850 - 9890 - 9920.
Look Nifty Takes Support in the desired zone metioned above @7:39 Hrs- 16th Aug2017
Looking for a bounce atleast for 9890-9920 so a dip is always an opportunity to buy now.
It is struggling between 9800-9810
Short Term Traders Be careful if it goes below 9800 psychological level & going below 9780 - 2nd attempt will put pressure on Nifty.
We were out below 9800.
Again out from selling short term - 14 points.
Holding 9775 downside - moving again above 9795-9800 desired zone as mentioned above- we are again in the bull race short term for the day.
Look it turns from 9785 - Heading - Getting goosebumps - me too!
Testing Close by 9775-9780 Zones twice -one in the zone & later turning above 9785 - has put short term important support zones.
We are looking now for the bounce for 9850-9890-9920 with important support or key level @9775.
Short Term Traders can book partial here in 9820-9825 & want to add more at lower levels.
We likely add more in the same zone 9795-9805 zone & booked partial in 9820-9825.
Partial means ( if traded 2 lots - book 1 lot & hold 1 lot- Add more long positions in 9795-9805 zone).
Traders who get confused just trade long positions holding stops below 9775
I am trading all swing turns of the market - I have to move with sonic speed & no time to think.
Not getting an opportunity to add more lots - no worries - we shall look to exit all & have kept trailing stops below 9825- If it goes below 9825 - I shall be closing all long positions.
Slowly & Steadily - It is heading towards 9890 -9920 Zone.
Heading 10 points more from 9855 - Wow!
Another 10 points more from 9865- Awesome!
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ