Sachinsyd
Short

$NIFTY sell Brexit fear at 62% fib retrace tgt 8000 stop 8350

NSE:NIFTY   Nifty 50 Index
86 3 2
$NIFTY sell Brexit fear at 62% fib retrace tgt             8000
Target more than achieved today
Reply
We still have support around the 8150 handle, below which we are likely to test 8020 as you mention. The weekly candle is bearish however to support the short positions for targets of 8000. However, this being the end of the week could result in a gap up open on Monday, following the MSCI descicion on the 15th which would affect the markets positively as expected since the A shares China are not very likely to be listed upon the MSCI EM index.
It would be Risky to short the Nifty index at Current market price at 8166. I would still suggest long positions above 8150. On the other hand, monsoons have started early showing some positive signs.
Reply
Sachinsyd JayKhanna
Thanks for ur reply . Brexit is the immediate and present danger that over powers every other macro news hence outlook negative globally and India can't escape it after good rally from Feb
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