India Nifty--Need to be careful...at top@8216

NSE:NIFTY   Nifty 50 Index
269 8 8
It was a whip saw market on 31st June 2016...I am expressing my fear that India Nifty             has topped at 8216 & started its down leg-well its too early to say but If this scenario plays out --like a bounce is expected above 8200 - in the zone 8200--8210 & starts falling & goes below 8170 --This could turn out to be 1st leg downside if 8170 is broken --latyer Nifty             break 8125 which is also important...

Trading Strategy
Safe Traders can sell once after the bounce in the zone 8200--8210 & fails to take out 8216 & Nifty             starts going below 8170...
Agressive Traders should look for a bounce of 8200--8210 with very very strict stop loss of 8216 (Risk -15 points) & go short.
Alternate Strategy
If Nifty             goes above 8215--- Look for Targets 8250--8260.

Abhishek             H.Singh, CMT
Comment: 9:50 am --2nd June 2016---Never sell at bottom wait for pull back to sell between 8200--8210 with minimum stop 8216...Above 8216--we have buy target of 8250--8260...or Selling Below 8125..
Comment: 10:30 am ...Trader can play with markets unless 8125 is broken we have no confirmation of downside so buy at every dips.....Avoid selling between 8200--8210 as suggested earlier
Comment: 11:15 am-- 2nd June 2016... Zone of 8150--8160 is very strong support zone....
Comment: 9:50 Am---3rd June 2016---Nifty Touched target zone expected 8250--8260....Do not hold any position...if Index falls to 8200 & bounces back above 8240 then one can go long ...else who ever is holding longs first need to exit if 8240 is broken..Regards
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Samir, Nifty Intraday was suppose to touch 8280 which it did ....but we should be little careful and avoid taking any long positions home unless we see next 8340 spot high taken out in coming days else we will sooner or later start retracement...Regards
samir687 AbhishekHSinghCMT
thanx a lot
abhi your view on nifty
Abhi waiting for your analysis
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