Nifty Index- 7770 shall be important swing low for the market
Updated
Good Morning!
11:00 Hrs Update(18th May 2016)
Nifty Index- 7770 shall be important swing low for the market
Momentum Indicators slowing down at lower time frames & Index is yet again in the crucial zone 7800--7820.
As per hourly chart, 7770 is key level for the market & has been important level for us since March-April 2016.
Agressive Bulls
Can take long positions once index starts moving above 7840 for targets 7890-7900. Going above 7910 shall open our target zone for 7940-7950 yesterday's resistance zone.
Once executed -bulls should hold long trades with strict stop loss@7770 Intraday.
Safe Trading should be taken once index starts moving above 7890 for target zone 7940--7950(Short Term Trades)
Bears
They can control market once index starts moving below 7770 which is very crucial & can go short for targets 7710--7720 as initial halt & any movement below 7675 can open more downside target.
11:00 Hrs Update(18th May 2016)
Nifty Index- 7770 shall be important swing low for the market
Momentum Indicators slowing down at lower time frames & Index is yet again in the crucial zone 7800--7820.
As per hourly chart, 7770 is key level for the market & has been important level for us since March-April 2016.
Agressive Bulls
Can take long positions once index starts moving above 7840 for targets 7890-7900. Going above 7910 shall open our target zone for 7940-7950 yesterday's resistance zone.
Once executed -bulls should hold long trades with strict stop loss@7770 Intraday.
Safe Trading should be taken once index starts moving above 7890 for target zone 7940--7950(Short Term Trades)
Bears
They can control market once index starts moving below 7770 which is very crucial & can go short for targets 7710--7720 as initial halt & any movement below 7675 can open more downside target.
Trade active
Trail your stop loss@ 7809...for executed buy call@7840 & above...Current rate- 7850.Trade closed manually
Book Intraday small profit@ 7865-7870 executed@7840 before market closes.Note
We are already in running train & going in our direction. I will suggest that what ever one gets take home & rest..to join fresh next day. Risk Takers can hold with stop@7809
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)
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