Time Tuned Nifty
Time Tuned Nifty for 24 Nov 2014
Nifty has continued to scale the limits in the past couple of weeks and bears continue to remain on their toes. While this state seems to be over or nearing its completion, certain key parameters should be kept in mind.
If Nifty goes past 8500, a substantial correction in this expiry is unlikely. FNO in this expiry in such an eventuality should be avoidable and trades must shift to December expiry. However, if 8500 is held, the brave hearts may try a target of 8400/8370 or possibly lower by close of Thursday trade.
The key high and low zones are as below:
Highs : 24/1000, 26/1045
Lows : 24/1200, 27/ 1200, subject to 8490 remaining intact. At or above 8503, the second low zone would shift to 28th.
I may be unable to update hence review of trades at these timings are advised. Safer bet would be to shift to a trade of longer TF.
Downwards bias remains till 8540 is taken out.
All the best.
Time Tuned Nifty for 24 Nov 2014
Nifty has continued to scale the limits in the past couple of weeks and bears continue to remain on their toes. While this state seems to be over or nearing its completion, certain key parameters should be kept in mind.
If Nifty goes past 8500, a substantial correction in this expiry is unlikely. FNO in this expiry in such an eventuality should be avoidable and trades must shift to December expiry. However, if 8500 is held, the brave hearts may try a target of 8400/8370 or possibly lower by close of Thursday trade.
The key high and low zones are as below:
Highs : 24/1000, 26/1045
Lows : 24/1200, 27/ 1200, subject to 8490 remaining intact. At or above 8503, the second low zone would shift to 28th.
I may be unable to update hence review of trades at these timings are advised. Safer bet would be to shift to a trade of longer TF.
Downwards bias remains till 8540 is taken out.
All the best.
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