NIFTY - A Buy On Dip Opportunity? YES, I think so.
Trend is up on all Higher Time Frames.
Daily Demand Zone is in control of prices and has provided much needed support in today's fall. The freshly formed 75min Supply Zone will/may not hold as Daily (viz, a higher time frame) is in control of prices. Bollinger Band Mean is inside the Daily Demand Zone and will likely give support in case of a further dip in prices. If 17580/17326 Daily Demand Zone breaks, then daily trend will become sideways, and longs will become risky. Until then, it’s a Buy on Dip market.
The ideal trade set ups are as follows:
1) Long Futures + Long Put
2) Bull Put Spread
Happy Trading
NIFTY
Daily Demand Zone is in control of prices and has provided much needed support in today's fall. The freshly formed 75min Supply Zone will/may not hold as Daily (viz, a higher time frame) is in control of prices. Bollinger Band Mean is inside the Daily Demand Zone and will likely give support in case of a further dip in prices. If 17580/17326 Daily Demand Zone breaks, then daily trend will become sideways, and longs will become risky. Until then, it’s a Buy on Dip market.
The ideal trade set ups are as follows:
1) Long Futures + Long Put
2) Bull Put Spread
Happy Trading
NIFTY
Trade closed: target reached:
Target reached.