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NIFTY : remain in sideline & wait for a break either side

Aftre a strong pushback up from 6825 level with a false break of prior swing level, nifty shot up strongly towards 7244 area of resistance & change of trend area & without a halt/pause price continued it's momentum towards next layer of resistance with more strength towards next layer of resistance which is 7600.Looking at the strength of price momentum towards upside, we're not going to look for a sell signal in nifty on this current resistance here but as we see 7425 layer as a short term key support it formed in last few days while consolidating hence to look for short signal in nifty, we'll like to see this 7425 level of short term support be broken strongly.Otherwise, we're waiting for 7600 level of resistanace to be taken out strongly towards upside & then we'll start looking for long signals till price reaches 7970 level of resistance.So for now it's time to remain in the sideline & wait for price action to genenerate a buy/sell signal.


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.

March 14, 2016

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