BombayBulls
Short

How To Trade NIFTY - 5/24/2016

NSE:NIFTY   Nifty 50 Index
59 1 2
Sometimes trading becomes so simple when you identify proper levels to trade against. We can't stress the importance of learning sound technical analysis more than this - our recent NIFTY             trades around the same levels.
We become net short NIFTY             near 8000 level, days before Fed turned hawkish. Whether Fed is going to raise rates or not is different thing but as long as bias is towards the hike, equities are going to remain on back foot. Now 7600 and 7500 is the matter of when, not if. NIFTY             is sitting right on support today and as soon as it gives up, it is going to reach 7600 in no time.
In short, we remain rally seller in NIFTY             targeting 7500.
thanks
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