Hi All,
As discussed earlier, #Nifty has taken support near psychological levels of 8000 and has bounced back very strongly above 200 DMA. Now 8360 remains a crucial hurdle going forward for bulls above which next major resistance will be near 8510....
short term traders can take a small risk of shorting Nifty with strict SL above 8360-70 levels with a low probability and low risk trade.
Bias still remains bullish with supports being near recent swing bottoms of 8000-7950....
Cheers
Hrishi
As discussed earlier, #Nifty has taken support near psychological levels of 8000 and has bounced back very strongly above 200 DMA. Now 8360 remains a crucial hurdle going forward for bulls above which next major resistance will be near 8510....
short term traders can take a small risk of shorting Nifty with strict SL above 8360-70 levels with a low probability and low risk trade.
Bias still remains bullish with supports being near recent swing bottoms of 8000-7950....
Cheers
Hrishi
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