India Nifty@27th May 2016--Kissing the important resistance 8160

As per previous short term analysis...I guessed it again that we have running triangle...w hich will explode on upside-our conservative target of 8160 is reached.
Let us be careful as this whole leg which started at 7717 can be retraced deep so be ready for the show.
Going below 8125 & 8114 ....Bulls ...Please pack your bags..& go home & relax...its our turn ...I am a bear so be careful.

Any fresh buying should take place above 8160 --Index should sustain atleast 15-20 minutes ...Regards,
Abhishek H.Singh, CMT

Comment:

Short Trades to be executed only below 8114....else we are having little bit more on upside

Comment:

The way index is holding above 8114....don't surprised ....guys who have put stop loss above channel resistance all will be taken & bulls will continue little upside...making new high above 8162

Comment:

Going above 8162 current will fetch us more 30-40 points & target should be 8190--8200. Regards but be careful ...any move below 8125 is warning bell for bulls. Regards, Abhishek H. Singh, CMT

Comment:

As suggested above 8160--we are long...

Comment:

Intraday Long Targets should be between 8210--8215....one should book atleast 70-75% of their longs & do not create any fresh longs...we can expect 20--30 points above 8220 but be careful as indicators are slowing down...so leverage less.

Comment:

Index should not go below 8125 for current intraday longs

Comment:

Keep very low long positions

Comment:

There could be thrust downside ....keep in mind 8125 is very crucial & important...Intraday break also --bulls should be careful ...exit all long trades...Incase thrust comes downside & fails to go below 8125--one can add long with that crucial support.

Comment:

Index whole day consolidated...looking for 8140 tomorrow i.e. 31st May 2016 with day's high stop ...

Comment:

Be careful...If Index stays above 8200...it should touch 8250--8260