10358 The 50K attraction and repulsion zone
Reason for short
a) Short at every 500 pts rise till Jan 15th 2024. After 15th Jan, there is possibility of correction till 1st feb 2024. It looks in Jan 2024 monthly candle, there is a possibility of doji candle, if market move anther 3.5% high from todays high.
b) It means tomorrow Friday closing forms the important level for the market as there is possibility of monthly doji candle in Jan 2024. 3% UP and 3% down in Jan 2024 month.
c) channel overshooting candle is more during first and 2nd week of Jan 2024
d) Ideally, Market has to correct from here, but due to New year euphoria, the movement in Nifty may even go up another 3% and will come back after Jan 15 2024 to form Doji candle.
e) Jan month strategy is mid point butterfly with 2000 risk of Feb 2024 is an ideal situation to go as monthly strategy.
Ideal short at 50K price zone with 300 pts SL
a) Short at every 500 pts rise till Jan 15th 2024. After 15th Jan, there is possibility of correction till 1st feb 2024. It looks in Jan 2024 monthly candle, there is a possibility of doji candle, if market move anther 3.5% high from todays high.
b) It means tomorrow Friday closing forms the important level for the market as there is possibility of monthly doji candle in Jan 2024. 3% UP and 3% down in Jan 2024 month.
c) channel overshooting candle is more during first and 2nd week of Jan 2024
d) Ideally, Market has to correct from here, but due to New year euphoria, the movement in Nifty may even go up another 3% and will come back after Jan 15 2024 to form Doji candle.
e) Jan month strategy is mid point butterfly with 2000 risk of Feb 2024 is an ideal situation to go as monthly strategy.
Ideal short at 50K price zone with 300 pts SL
Trade closed: stop reached