Nifty- Buy Above 12625/12625 for 12770/12850

AbhishekHSinghCMT Updated   
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)

Last Reliance Idea
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

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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