Short

India Nifty Update@20th May 2016- Expect Downside Thrust to 7750

Updated

11:00 Hrs Update

There is a triangle forming in red wave iv- so taking time as it is consolidation ..we shall expect downside thrust & target 7750-7755 intraday with stop@7838. This will achieve equality with yellow wave -i.

7750 can work as support-in that case we will see bounce back.

Current Price - 7795

Trade active

Ideally Nifty should not go above 7811...We will give some leeway & consider 7816 as stop for Intraday Trade...I have modified stop loss from 7838 to 7816....If hits ...Let us be out & take short once 7789 is broken to downside.

Note

Thrust was seen but never made low which I was expecting....Kindly trail your stop losses to cost if taken short between 7800--7810...Do not stand in the short trade above 7810. Regards

WaveTalks

Best Regards,
Abhishek H. Singh
Growth Director - TradingView India

YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
twitter.com/TalksWave

Telegram Handle
(Deleted)

Also on:

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.