AbhishekHSinghCMT

Nifty- Hold for RBI Policy- Buy with 8100 Support

NSE:NIFTY   Nifty 50 Index
378 7 6
RBI Policy Day- Hold for the policy & likely will suggest that markets will show clear directions post policy is done & waiting for 15 mins so that volatile movements are settled down.

Trading Strategy
Holding 8100-8110 zone could be a strong support zone for today's session as well & short trades we won't take unless 8050 is broken down. There could be a possibility that Nifty             could dip below 8100 & give us short term target close to previous swing 8050-8060 zone, but I am not in favor of taking sell positions infact if 8050-8060 zone if held as support zone that could also be used as buying zone.

Related Analysis Attached below
Trade active: 12:41 Hrs 7th Dec2016

Last Price@8165

Nifty still has resistance in the zone 8200-8210 so pre or post RBI Policy be careful that Nifty could also hit the zone 8190-8200 in volatile reaction & take sharp U-turn in downside direction if after hitting the zone 8190-8200 - it sustains below 8200 marks & going below 8130- it could be 8100-8110 & Below 8100- could be 8050-8060 & under 8050- Down
Trade active: 14:36 Hrs 7th Dec2016

Last Price@8120

Bang on for the move ---Here we go with sharp down as expected from 8190-8200 zone as expected
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
@AbhishekHSinghCMT Can you suggest some books or tutorials related to the technical, Right now I'm learning & following Jason Stapleton in youtube, He is an UK forex trader.
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@Harish_Kumar, Any personal request, do it in Personal Messenger as it is not related to post. I will suggest you.
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Would you analyse the market through price action or elliot wave thery
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@Harish_Kumar, Elliott Waves uses price action only.
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Would the market go still down or could recover
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@Harish_Kumar, I cleary updated that it is not looking good for bulls. Yes it has likely started down so going below 8050 wil continue to 7900-7950 zone as expected earlier
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That was good, but how come you know it would be negative without results, even the technical chart was also had clear picture of it.
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