Entered in TS between the range 386-387 likely looking for the zone 400-405 where TS will face its first hurdle which is 38.2% retracement zone of the fall from 441 to 380. We will likely exit above 400 & shall wait to see how the market reacts post a 400 mark.
We are still above entry zone of 386-387
Let us exit for time being & wait for buying opportunity in the zone 381-382 holding that 380 zone- as corrections are tough to trade as Nifty if fails to hold 8150- it will be better we exit TS & wait
If one can take risky buy - with strict stops below 386 - If one can afford that stops then go ahead else skip the move
Avoid Taking Risky Call as well
Half an hour has passed & TS is moving in range of 387-389
TS is doing time wise correction not going below 386-387 zone & going above 392 -it is most likely travel into the 400-405 zone
At 395 it is retraced 23.6% so likely let us book profits as Nifty extended to its day's high in the zone 8190-8200
Just missed because of Nifty Puzzle. Apologies. As expected, it is close to the zone of 400 band.
But likely that is resistance zone -so be careful if you hold any long positions.
Going above 395 likely it goes into the zone 400-405 zone as expected earlier
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ