AbhishekHSinghCMT
Long

Nifty Index- 7770 shall be important swing low for the market

NSE:NIFTY   Nifty 50
105 2 3
Good Morning!

11:00 Hrs             Update(18th May 2016)

Nifty Index- 7770 shall be important swing low for the market

Momentum Indicators slowing down at lower time frames & Index is yet again in the crucial zone 7800--7820.
As per hourly chart, 7770 is key level for the market & has been important level for us since March-April 2016.

Agressive Bulls
Can take long positions once index starts moving above 7840 for targets 7890-7900. Going above 7910 shall open our target zone for 7940-7950 yesterday's resistance zone .
Once executed -bulls should hold long trades with strict stop loss@7770 Intraday.

Safe Trading should be taken once index starts moving above 7890 for target zone 7940--7950(Short Term Trades)

Bears
They can control market once index starts moving below 7770 which is very crucial & can go short for targets 7710--7720 as initial halt & any movement below 7675 can open more downside target.
Trade active: Trail your stop loss@ 7809...for executed buy call@7840 & above...Current rate- 7850.
Trade closed manually: Book Intraday small profit@ 7865-7870 executed@7840 before market closes.
Comment: We are already in running train & going in our direction. I will suggest that what ever one gets take home & rest..to join fresh next day. Risk Takers can hold with stop@7809
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
we shall start downside move if 7770 is broken...let us be careful
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Thanks abhishek , So its expected to go down ? some more ?
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