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nifty : 7670-7640 seen as key support zone

The overall bullish momentum in the index is currently in a pause mode for last few days & looks like it's waiting for a pullback correction before it starts it's upward momentum again.In case, price starts a corrective downmove from current level, then 7640-7670 level of support zone will have my eyes to re-enter the index & join the ongoing uptrend.Though on higher timeframe chart like daily 7600 is seen as key support level to hunt a buy, but in hourly/intraday timeframe i see 7640/70 support zone as more interesting levels to find a buy entry.In case, price does not hold the intraday support zone, we'll be looking for buy entries again around 7600 layer of daily chart flip support.

nifty- 28.03.2016

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PLS NOTE : All chart analysis posted above are the author’s own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone

March 28, 2016

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