India Nifty@23rd May 2016- Reaching close to 7680 – A key level
If Index moves below 7745- it could get support in the range 7705-7715 & going below 7700- it can touch 7680-90 which is key level for the market.
Once we breach 7680- Index will confirm that it has started downtrend move. I shall be looking for the zones mentioned above as support zones where a temporary halt could be possible with important resistance@7890.
Incase, if we have pull back & index goes above 7890- then we need to come back again for analysis.
Trading Strategy-
Going below 7745—look for support in the zone 7705—7715 & 7680—7690—Intraday with day’s high as stop.
Regards,
Abhishek H.Singh, CMT
If Index moves below 7745- it could get support in the range 7705-7715 & going below 7700- it can touch 7680-90 which is key level for the market.
Once we breach 7680- Index will confirm that it has started downtrend move. I shall be looking for the zones mentioned above as support zones where a temporary halt could be possible with important resistance@7890.
Incase, if we have pull back & index goes above 7890- then we need to come back again for analysis.
Trading Strategy-
Going below 7745—look for support in the zone 7705—7715 & 7680—7690—Intraday with day’s high as stop.
Regards,
Abhishek H.Singh, CMT
Trade active
Take short only below 7730 now....
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.