India Nifty@23rd May 2016- Interim Update

Index opened gap up very close to 7800. We shall hold 7745—7750 as important support zone.

Aggressive Traders

Any push above 7790 shall take index close to 7840-7850 as our intraday target zone with strict stop loss below 7745.

Safe Traders

Once Index moves above 7813 which was resistance for triangle on 20th May 2016- shall give us same output as 7840—7850 as target zone.

Regards,
Abhishek H.Singh, CMT

Comment:

Avoid short positions & take only below 7730