Largely the trend is down so we will look for a push down in couple of months down the line- if it starts moving below the key level-350
Short Term Trading Strategy
Look for an upside move in the zone 410-415 once it sustains & holds above 380-385 zone where it retraces 50% & going beyond 420's can extend to 435-445 zone which should likely get some resistance
Long Term Trading Strategy
Shall be looking for the zone 435-445 if it travels that could face resistance & I shall search for selling opportunity or safe traders could wait for a break of 350's in the future for taking sell positions- in that case likely it will travel below 288 lows & make a new low going into the first half of 2017.
40 points jump from above 350 to 391 - Amazing --did cross the bullet train- one should be lucky & daring to do so specially against sellers flux in the market.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ