Nifty after market analysis as on 7 December

In today's session our technical analysis for nifty was if Nifty  opens or trades above 10620 then it can go to 10628 to 10640 levels . If crosses this 10628 level then can go up to 10640 levels.... And also we had mentioned that if Nifty starts trading above 10640 level then may go to 10675 levels.....So , what happened ...? you peoples very well know about it...!!! However our last strategy what we posted on investing.com was not to panic at upper levels.... make short term positions in the market for near future..... as nifty is suppose to come down to a min of 10000 / 9333 within a short spell of time... May be it may take around 2  to 3 months....However as per as our technical analytical point of view , traders must go short at upper crucial levels..... and at the same time must book profits at lower crucial levels....

Now lets see what happened exactly......?

We already mentioned that 10640 was a very crucial level. Nifty opened at 10644.8 and started trading below 10644.8 level to hit intraday level of 10620. The market was range bound within 10620 to 10655 range for two hours.  The market slide down to hit intraday low of 10599.75 where Nifty took support around this.... and again took reversal from that level to the high of 10700++ level and managed to close at 10693 level... Recovery in global market and national sentimental news along with Bank nifty expiry day today...lead Nifty  to cross 10675 level and Nifty closed at 10693.70. 


Disclaimer: This is Nifty 50 trading strategy as per  our analytical point of view and is subjected to change due to global market situation, sentiment and fundamental analysis. Investment and trading in index and equity has its own risk. This material is solely for educational purpose and the authors are not responsible for any profit or loss incurred based upon the analysis.


Comments

Popular posts from this blog

Nifty at risk...... Be aware!!!!

कौन है ये डी.आई. आई और ऑफ.आई. आई

WE SHIFTED OUR SITE FROM BLOGSPOT TO WORDPRESS.. CATCH US ON nifty50tradingstrategy.wordpress.com