NIFTY – Test Of 9250 Support Coming Soon – 7/4/2017

NIFTY – Test Of 9250 Support Coming Soon – 7/4/2017

Everybody is getting long equities to the hilt, so a slightest uptick in volatility will shake off those who bought at the top.  For last many years, it’s been a recurring theme of the market that sudden worries about something emerges ( a.k.a. Tantrums ) to induce the sudden collapse of souring indices and then after a week ( even a next day or two in some cases ! ) you can witness the index touching new highs.

Here we are focusing on that post collapse jump part because it is difficult to judge when things will start to falter but it’s easy to find support levels.  Indian stock market has shown some great resilience and have been able to swallow many difficult to digest things, so minor to sever stomach pain is the most probable outcome in near future.

Trade idea is to wait for that drop and trade 9250 and 9000 support levels in coming sessions.

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NIFTY_Weekly_Chart_July_4_2017

NIFTY_Weekly_Chart_July_4_2017