NIFTY has closed at 7890.90. NIFTY has closed 1.20 %
down. As stated earlier in our previous post, 7880 is a real strong support.
And 8050 is a real strong resistance, as we can see that in our chart since
last six days. So please keep these two levels in mind and trade safe.
Sustained trade in any direct above / below these levels, position can be
initiated. If in case NIFTY breaks and closes
below 7880, a short position can
be created. An At The Money PUT option might be a better tool to keep our position,
profit and loss in control. In case of more confirmation, we can add to the
position later. Recommendation will be given here later. Till the time, NIFTY
does not break and close above 8050, a long position is better avoided.
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