October 14, 2016

Nifty Can Bounce towards 8700-8800 from 8550-8393 Range

Nifty opened gap down today at 8671 followed by sharp decline and traded with negative bias for rest of the day. Nifty declined by more than 150 points to register day’s low 8541 before closing huge 135 points down at 8573.

Yesterday, trading strategy was to Buy Nifty in 8694-8681 range using exact stoploss of 8663 expecting targets 8781 but Nifty opened at 8671 and declined below 8663 within fraction after opening, so trade was negated. Nifty declined as per alternate possibility of the sharp decline (small crash) mentioned in the report. Let’s analyze fresh charts for further scenario.

Read more at http://sweeglu.com/nifty-can-bounce-towards-8700-8800-from-8550-8393-range/

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