NIFTY ( Futures ) closed at 8611.40. We have clearly mentioned
yesterday about the volatility NIFTY might have, and it did the same way. Huge ups
and downs were witnessed today. Still the trend is unclear with the high
volatility moves. The levels
remain the same as yesterday. If NIFTY trades and
sustains above 8660 as mentioned in previous post, I guess, we can take 8500 as
a solid support, at least for this month till the budget is out. The Stop Loss
will be very deep if one initiates a long above 8660, but that is how it works.
Initially one can trade in small quantities with Call options and gradually go
on increasing the quantity as and when new signals are generated. A close below
8560 will again lead the NIFTY towards further down levels like 8460, 8380 and
8240 also in case of weakness. So keep these levels handy while trading in
NIFTY. Trade safely.
No comments:
Post a Comment