Its a complex irregular correction going on since lows@7915. From previous update, "Use the bounce 8000-8025 to sell"- Nifty made last sessions high@8022 & slipped below 8000 mark.
What Next? Likely we should not take any long positions unless 8055-8065 zone is taken out convincingly as updated last because zone 8050-8060 was intact for several bounces & now same zone shall be acting as resistance zone.
Trading Strategy Next support should be close to 7900-7920 in the zone of previous low@7915. If that zone holds, then look for a bounce again to 8000-8025 & Sell again if falls below 8000 with the recent swing high as stops in coming session, keeping in mind-it should not take out 8065 above our head which is critical level now.
Use the Bounce 8000-8025 to sell-Buy only above 8060- Click the chart & use load bar feature
액티브 트레이드
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12:57 Hrs 26th Dec2016
Last Price@7912
Likely we will avoid long positions as 7900 was broken down so let us wait for a new low in the zone 7860-7870's. Any sustained move above 7925 or dipping down in the zone 7850-7870 we shall come back to see for a possible bounce.
코멘트
AMBRISH
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Thanks for update on How to Nifty Trade?.
VimalVashisth
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u played very well last trading session
WaveTalks
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@VimalVashisth, yes, 8050-8060 is an important zone, so I always take chances near to key levels