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Wednesday, May 11, 2016

Nifty Spot Update for May 10, 2016 & Long / Short Levels


Nifty Spot has witness profit book @ zone of 7870-7890 since last 2 days.

With current scenario bulls look tried, however bear have also not gained any strength in market

Bulls will be active / fresh long is only advised once Nifty spot crossover and sustain above 7905.

High Risk Trader Short Nifty Future or Buy 7800 / 7700 puts Once Nifty spot break & sustain below 7870
For 7830-7810 / 7780-7770 / 7730-7680

Reverse position or Go Long on Nifty Future or Buy 8000 / 8100 calls
if Nifty spot sustain above 7905
For 7970-7980 / 8010-8030

Note:
As per Monthly Charts if recent low of 6825 on Nifty Spot hold then My Target for Nifty spot is 8600-8800 Till November 2016


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Update 1
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Market open gap down and recovered well at yesterday close. Nifty Spot again trading @ profit booking zone 7870-7890

Bulls be cautious fresh buying / long only once nifty spot crossover and sustain above 7905 or one can even buy 8000 / 8100 calls.

High Risk short Nifty Future as per nifty spot levels
CMP 7890
Stoploss & Reverse to Long once Nifty Spot Sustain Above 7905.

Safe Trade Short Nifty Future or buy 7800/ 7700 / 7600 puts once nifty spot break & trade below 7870.

Short & Long target as given before ... Use same levels 👍🏻


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Update 2
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*Cautious* If today closing on nifty spot will be below or near day low of 7780

It will be the indication that bulls are fully tried and bear has gained strength over the market and nifty spot will be heading for Gap 2 & Gap3

Last Saturday Mock Trading Low 🤔🤔

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