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nifty analysis : joining back overall downtrend

On Dec-31 post, in nifty analysis – we talked about 7970-7940 resistance zone to watch for a sell signal with multiple support targets below it like -7838,7721 & 7600-7556.Yesterday we've seeen nifty reacting well on the resistance zone & sold off heavily from our discussed area of resistance & finally closed below 7838 level of support-1.Now, we'll be using 7838 level of support as flip resistance where we may look for more price action sell signals if price comes back there otherwise we'll be trading using continuation trend signals in case price continues to sell-off.We're targeting 7721 & 7600 now on the lower side in all our upcoming sell trades. Below is the setup chart analysis to explain you the reason of being short in this market & here is the entry chart analysis to show the entry areas as per our strategy.

05.01.2016-nifty1


Today's Trading Lesson : MEMBER ACCESS ONLY


SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my ADVANCE TRADING COURSE & trade with me real-time using higher & lower timeframe charts.

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.

1 responses on "nifty analysis : joining back overall downtrend"

  1. RAVIKUMAR at

    SIR,
    I WAS IMPRESSED ON THE WAY YOUR EDUCATION, I WOULD LIKE TO KNOW WILL YOU OFFER TRAINING IN TAMIL LANGUAGE?

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