Nifty Positional View

Nifty Positional View 

Nifty is going to trade in between 7956 and 7522 for the  days of APRIL.

I am expecting a  Zig- Zag movement for the days of the month. First trade for the target of 7522 spot.  Then trade for the target of 7956 spot levels max if goes. Then trade for a break of 7989.  Then trade for 7242 spot if break 7522. 

Anyhow Nifty will break the recent high of 7777 spot and also going to break the recent low of 7582 spot. Safe traders don't  hold overnight positions. Expect either Gap up or Gap down openings.

Wave 4 has not yet finished.  I think it may take some more time before reversal.

Crucial supports: 7667-7516  spot.  It wont break 7989 spot in April. Conversely it wont break 7242 spot also.   Hence you can use 7522-7516 spot is the stop loss for longs and 7987 spot for shorts. If breaks 7516 spot it will move swiftly down to 7242 spot.  At the same time if breaks 7556-7989 spot, it will fly to 8108  spot level. Hence keep booking small profits.  Do intraday only in options unless if breaks the crucial levels of 7522-7516 spot  and 7989 spot.

I will not be available to give intraday updates.  Hence use strict stop loss.