NIFTY Trade Plan-Week 7 Jan

Nifty Futures: NIFTY Future managed to latch on to the 7750 levels that we discussed yesterday . But it did provide two trade opportunites as per the plan one was short from 7840 levels and the other a pull back trade frm 7760 levels. The pull back short also provided a good swing short trading opporunity with low risk. for intraday traders 7750 will hold the key, if markets hold below it expect downsides to be tested. While swing positions will continue for intra traders next levels will be 7705 levels. if trading below it can take fresh shorts with downside targets of 7550-80 levels.
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עסקה סגורה: היעד הושג:

Nifty Futures: we had discussed that 7750 will br the key zone and below that 7705 levels. The morning gap doen ensured that 7705 was attempeted but not taken out this called for a short entry. Nifty dived enough to test 7580 swing targets on an intra day basis.
Were you able to take the trades?. I had a swing carry over short from day before which was taken out in a trailing stop at 7610 levels.
Going forward 7550-80 will be a key support and of this holds for a while I would expect a bounce back to test the resistance zones of either 7700-7750 and watch out door price action there or take a low risk contrarian trade as well from lows. If the support zones mentioned breaks then fresh shorts can be taken for targets of 7420 or lower.

#nifty #nseindia #sensex #trading #intraday #shares