Nifty is still volatile and fear is there in market. We personally like to trade safe and doing hedged trades only. So, we are just suggesting most probable low risk trading strategies to give ideas, traders who want to take risk or can manage trades can use these levels and conditions to plan their own trade.
Positional Buying or hedged trade can be planned if get Nifty in major support 7444-6556 with stoploss below 6284 expecting bounce of 1300-2000 points. It is a very big range, risk reward will be better if get Nifty near 6556.
For Intraday, Nifty if breaks and stay above 8079 for more than 15 minutes then later decline towards 8079-7889 can be used to buy Nifty with stoploss some points below 7889 expecting bounce towards short term resistance 8726-9434. Upside resistance 7889-8079 is calculate based on today’s low 7583, it will change if Nifty registers fresh low tomorrow.
Those who want to sell or holding any shorts can use stoploss above 8079 on 15 minutes closing basis. Nifty can decline towards 7444-6556 if fails to stay above 8079 for more than 15 minutes.
Further, we will update about the formation of any important internal pattern or any change in trend/pattern/important levels or fresh support/resistance/breakeven point during market hours by WhatsApp Broadcast to all my “Nifty Live Updates” subscribers.