Nifty P&F setup - 28th Dec 2016

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Last closig price: 8032.85

Nifty dly 10 x 3 P&F chart Pattern: Double Bottom Sell - Bearish
Nifty Trend (10 SMA): Price Below average - Bearish
Nifty setup: Bearish
Nifty 50 1% x 3 Breadth: 17 - Oversold
Bullish revesal level : 8070 (Low Pole)

Recommended strategy for the day: Be a lazy trader, find strong reasons to trade. Apply quick profit booking strategies.

Risk reward ratio looks not in favour of fresh positional bearish trades.

P&F setups to refer in individual charts: Prefer aggressive exits over riding techniques. Utilise bands, counts and Poles.

Outperforming sectors (based on RS charts): Energy, FMCG
Underperforming sectors (based on RS charts): Media, Pharma, PSU bank, Realty, Fin service, Commodities, Bank Nifty, Pvt bank.

p&f