AbhishekHSinghCMT
Long

India Nifty- Buy Setup

NSE:NIFTY   Nifty 50 Index
50 1 6
The leg which started from 7765 on RBI policy day could be nearing its downleg & sooner it will start its upside leg. Look out for prices to move above 7570...In that case one can look to book in the zone 7625--7635.
Trade active: Prices are crawling on downside so it could be another connecting X-wave before we start another A_B_C & shall look again for target zone as 7750--7775 before falling back or resuming downtrend again.Regards
Trade active: If you have an urge to trade--you can take short trade only for 20-30 points downside that means 7540-- to ---7520 --7510. Kindly do not go short for longer targets as prices are crawling not falling.Regards
Trade active: Booked ....20 points ...Took short@7540 & Covered@7520...Regards
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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The chart has a probability to bounce but EOD has a different view.Let us see.The levels mentioned above is technically correct.Thanks.
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