AbhishekHSinghCMT

Nifty- Buy Above 12625/12625 for 12770/12850

Long
NSE:NIFTY   Nifty 50 Index
This is short term view & holds valid till Nifty Index holds above 12625/12650 - You can expect impulsive move towards 12770/12850 - targets upside ( careful at tops) - if crosses 13K then structure has to be reviewed back. Thanks

You need to be careful as suggested in closing comment of Reliance Idea published last (mentioned below)

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Last Reliance Idea
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Trade closed manually: 11:55 Hrs / 13th Nov2020

Got small push upside today post making lows - 12600 (Approx.) - Index moved upside to 12725-12750 zone


Till the time it holds above 12625-12650 zone - Look for upside rally again to 12770 (Target 1) & Move Above 12770 for 12825-12850 (Target 2)

Later -Once Both the Targets get achieved -as a trader you need to be careful at the tops close to 12850 as Index can get resistance from "Trendline which is passing from 12430- Jan2020 Fall Happened"

Getting Resistance from the trendline - Index can fall - "So, Careful AT Tops"

Thanks & Good Bye- Wish You Happy Diwali
Comment:
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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