Last week Nifty was unable to give a close above 7550-7589-7600-7625 zone and corrected from the first resistance level of 7550. Those who shorted with us @ 7540-50 have gained more than 100+ points twice.
The view remains the same. To move upward Nifty must ave to give a close above 7625. A close above 7625 and we may see 8300+ very soon....
Our trade plan still remains the same. Sell Nifty @ 7550 with SL @ 7560 on trading basis.
If stop-loss triggers then again sell @ 7590-7600-7625 zone with strict stop-loss @ 7640 on trading basis.
Buy Nifty if 7279-7252 zone comes, with stop-loss @ 7240 on trading basis.
Next level to make buy is 7186 with Stop-loss @ 7170 on trading basis.
Major resistance levels are 7550, 7589-91, 7600-7625, 7685 7777-7787, 7804, 7972,
Major support levels are 7445-22, 7369, 7306 , 7283, 7186, 7113, 7065 6980, 6825.
* All levels are of Spot
I ma receiving many mails regarding that has Nifty made its bottom or not? From our calculations the Nifty has made its bottom and now the plan of action is to buy on every dips. If Nifty breaks 6800 significantly then we will change our plan of action. Till then every dip is a buy....
fantastic calculation amardeepji
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