Nifty-Technical
View-8-7-14
Nifty closed at 7787.15 on 7-7-2014
SUPPORT: - 7758 / 7751.60 / 7700.05 / 7649.50 / 7629 / 7611.35 / 7593.35 / 7487.55 / 7481.30 / 7477/7441.60 / 7409 / 7340 / 7263 / 7229/7200
RESISTANCE: 7792/7860 / 7990 / 8050 / 8125.
(Figures in bold are important)
Nifty made new all time high of 7792 today but moved
in a very short range of 37 points , this indicate that a reasonable big move can happen on the either side in coming 1-2
days time. so as of now the bench mark level for nifty for this week (ending on
11-7-14) is 7780 & 7751.60 and for the month of July-14 is 7700.05 / 7629
&7611.35 and the short term DMA which is placed at 7680 for 8-7-14 for long
trades, during this week if nifty starts trading below 7780 be alert in long
trade and if it stays below 7751.60 then get out of long trade in nifty till it
bounce back above this level again.
REMARK:-Long
term trend is up and it is buy on dip market as of now but since two major
event of railway budget & general budget are lined up therefore good
volatility is expected, so trade cautiously with an adequate stop loss. Kindly
note that make your cost your stop loss in favorable trade and then trail it as
the price moves up/down to gain maximum profit and avoid losses.
Contact me for strategic guidance to enter and
exit the trade
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