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NIFTY support levels to watch for

Below are the nifty support areas to keep an eye on in coming days.Currently nifty is trading below supports 1(7550) & 2 (7440) & heading towards it's next support level-3  (7120). We'll build-up short postions around 7440 as discussed on JAN-19 update as the same level is now flip resistance.So, trade breakouts move as well as breakout retest move after a breakout below supports using all these given support areas till the index is moving in a strong downtrend.As seen on chart , below support-3(7120), we see support-4 as 6660, support-5 as 6335 and support-6 as 5972.Pls note, all these support areas will not be considered as as single point of support as shown in chart while trading as we'll fine tune these weekly supports with daily & hourly support areas hence it'll become support zones instead of a single support line.

20.01.2016

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.

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