Everyone looks bearish on media today nifty contra idea

NateshBhat Updated   
NSE:NIFTY   Nifty 50 Index
Everyone on social media thinks 16700 top made and can tomorrow be a surprise shock. Idea only if 16600 holds or short for 16500 if broken 16600 by 20pts.
Comment: Be careful at 16550 area 50% fibo on the rally from 16400-700
Comment: Slight change in trade plan to adjust to possibilities:

If gap down
Buy at 16550 with stops of 30points.
No short plan today.
If bounces before 16550 we buy above 16600.
Otherwise sit aside.

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