NIFTY-14-Mar-More Time in the zone?Next Trades

NSE_EOD:NIFTY   Nifty 50
Market Bytes 14-Mar-2016
Nifty             Futures: we had discussed a broader range of 7430-7550. That range alomost got tested on both sides and yet failed to clear on either side ensuring we continue in the range. For immediate entries I had 7510 in mind. This gave about 32 odd points. Now that we are back in the thick of the zone. We will again be tempted to take the trades above 7510 on the long side and 7430 on the downside. Upside above this is possibly the 7730 range and downside first major test will be 7320.
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Comment: Market Bytes 15-Mar-2016
Nifty Futures spends another day closing within our range zone of 7550-7430. While it did mark a breakout it failed to sustain above it and closed marginally below 7550. What does this mean? Has the rally fizzled out or are we just gathering any steam for the next round. Well. 7430 could be the decider in this one. until we hold above it all dips can be bought into. Below it could mark the reversal of the rally.
Until that point we will keep attemptng to trade ab break out above 7550 or look for low risk short trades below it. For the Trivia this marks the 8th session closing in the band we discussed. This is a testimony to the range as well.

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Comment: Market Bytes 16-Mar-2016
Nifty Futures spends yet another day within our trading zone failing to make much headway on either side. This again means we either stay on the sidelines and wait for a decisive move or look for pull back trades from either of the trading levels. Immediate upside being 7550 levels. With the FED meet due tonight most markets may just play the waiting game as well. Although we would beleive that until for a negative surprise ; most things are factored in.
Now this marks the 9th straight session in this zone. On 3rd March we discussed how markets tend to revert to mean after a strong run up. On a strong market where markets tend to hold up letting the averages play the catch up game. This is a trend we have since then.

#nifty #nseindia #sensex #stock
Almost on target, but a day here and there :). Since we have managed to hold above 7550, this is looking fine. So far and now,its a low risk at this point to try a breakout or a failed breakdown
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