NIFTY - Trade Idea - 4/12/2016
NIFTY's price action is baffling to many. In general retail traders are confused about ups and downs of the market lately. But well, they always are, aren't they?! If you look at the chart technically, there is little to be confused about. Few days ago we mentioned 'playing the range' in NIFTY. And now we are inching closer to the upper range. There is no advantage playing in the middle. So you always have to define support and resistance levels to trade against.
Yesterday we bought it from 7540 and 7520 and that trade we closed at 7700. Now 7600 and 7620 are interesting levels on retracement and we may buy against that.
Yesterday we bought it from 7540 and 7520 and that trade we closed at 7700. Now 7600 and 7620 are interesting levels on retracement and we may buy against that.
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