NSE_EOD:NIFTY Index of the 50 listed India companies
NIFTY our last discussion was to trade pull backs from 7800 levels or a breakout above 7880. This trade has yielded a good return. Now we are nearly testing the 8000 zones. this will prove to be a solid test.This was a good point to test low risk contrarian shorts. Have a short from 7980 zones. stops will be above 8025. Downside opportunity will really emerge if low of day is broken. then we can see a potential test of the 7860-80 zones again. On the upside clear of 8025-40 can see markets testing 8140 levels in the coming sessions
Comment: NIFTY & BankNifty Futures Update: Non event day hence the trading plan from yesterday remains intact.
Comment: The low risk contrarian short from 7960-80 range has proved to be a good trade so far. Best would be to keep stops above 7850-60 levels now for trailing positions. Also a good point to book part profits; and wait for pullbacks or new trends to emerge
Comment: Nifty Futures: We had a decent run with a very low risk short trade initiated on the 30th of November. Now NIFTY broke through and closed around a crucial levels of 7730. this will be intersting to watch out. if the markets manage to sustain these levels which at this point looks difficult it can again give a low risk pull back trades to the zones of 7800. on the downside if it manages to trade below it we can have a run for the 7530-50 zones which will be the next major swing levels to watch out for.