AbhishekHSinghCMT

Nifty- Hold for RBI Policy- Buy with 8100 Support

NSE:NIFTY   Nifty 50 Index
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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
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

@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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AbhishekHSinghCMT Harish_Kumar
@Harish_Kumar, Any personal request, do it in Personal Messenger as it is not related to post. I will suggest you.
Reply
Would you analyse the market through price action or elliot wave thery
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AbhishekHSinghCMT Harish_Kumar
@Harish_Kumar, Elliott Waves uses price action only.
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Would the market go still down or could recover
Reply
AbhishekHSinghCMT Harish_Kumar
@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
Reply
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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