AbhishekHSinghCMT

Nifty- Hold for RBI Policy- Buy with 8100 Support

AbhishekHSinghCMT Updated   
NSE:NIFTY   Nifty 50 Index
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

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