What is NIFTY Upto? - 3/21/2016
Strong rally from 7000 base has made everyone ebulliently optimistic and rightfully so! Ok, so 7800 is in the cards right now but well the thing is it might not be in straight line. 7250 has become very solid support after 7400. If this break of 7400 - 7600 range is real then we will see plenty of opportunities to trade the range of 7300 - 7800 in coming sessions.
As of now, trade is to be patient and get long near 7580 for the first trade. Then as mentioned above 7500 , 7400 and 7300 are good support levels to trade against. And caution is needed by not being enthusiastic and getting stuck with NIFTY longs near 7750 with 100 / 200 pip stop-loss ! But well, retail traders are destined to make that mistake because it's tough to be patient and wait for the trade to come to you by leaving buy orders at the right place :)
Get long on dips and buy puts on spikes near 7800 / 8000 are the trades of near future.
As of now, trade is to be patient and get long near 7580 for the first trade. Then as mentioned above 7500 , 7400 and 7300 are good support levels to trade against. And caution is needed by not being enthusiastic and getting stuck with NIFTY longs near 7750 with 100 / 200 pip stop-loss ! But well, retail traders are destined to make that mistake because it's tough to be patient and wait for the trade to come to you by leaving buy orders at the right place :)
Get long on dips and buy puts on spikes near 7800 / 8000 are the trades of near future.
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