NIFTY SPOT : 8224.10
Hi,
Readers,
Nifty almost
achieved all the target on the down side which were mentioned in my earlier
blog dated Dec 09, 2014.
It was
mentioned that targets for Nifty can be 8290- 8180. Nifty made a low of 8216.
Nifty had
biggest weekly fall after a long time.
Nifty is down
more than 400 points from the high of 8627.
Fear has
started to come into the minds of traders.
Even World Markets
also are falling down as if there is no tomorrow.
Now What :-
Nifty has
major support at 8180 levels and if this level is also broken then even level
of 8000 can not be ruled out. Time will tell.
Now for the
time being Nifty is sell on rise index and every bounce should be used for
identifying selling opportunities.
Now 8400-8420
will keep on acting as major resistance area for Nifty and will keep ensuring
that till Nifty is below 8420 it is for sure a sell on rise.
As I normally
say that, when ever good profit comes so quickly one should grasp it with both
hands. Greed is the biggest enemy in this market.
Strategy is to
use rebounds to sell to keep risk reward ratio in favour.
Trade
accordingly & Enjoy the profits that too god one in just one week.
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