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Nifty: Trading the Channel...

Short
NSE:NIFTY   Nifty 50 Index
Nifty
- most of the lines and channel are in continuation from our previous analysis
- we see a new Dark Maroon line which has been broken on the 5th attempt
- Going forward, that line may have the potential to act as Line of Resistance for any pullback rally
- the zone of 14445-14498 is very important

If Nifty does get resisted, there could be Swing trade Potential opportunity...

Important level on the upside : 14445 / 14498 / 14530 / 14567
Important levels on the downside: 14288 / 14230 / 14193 / 14148

Also Data analysis suggest that Prima facie, Maximum Call option buyers would want a close above 14630 / 14691 / 14756 to be profitable on expiry day.

With Tuesday also being a holiday, this time, time could be more in favor of Call writers / Sellers

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Take care & safe trading...!!!

For any queries, use the comment section below or Direct Message

Disclaimer:

- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

Comment:
Nifty opens at 14477 and makes a high of 14491 so far...
CMP 14467

Trade is active
Trade closed: target reached:
We are done with the Swing trade....

1st target of 14288 which is highlighted in our post above has been achieved....

So from 14467 to 14288 we captured a good 180 points in quick time....

All because we did our homework and were ready with our plan well before the markets open...

Trading is all about planning in advance... identifying your levels before hand and execute when you see those levels....

Happy trading...!!! πŸ˜€

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Comments

today's low(14222) is exactly at lower support of channel.may see close of 27 at higher side of trend line. p/c ratio gone bellow 1
Reply
@ckirtane, Today Nifty traded a perfect Channel and we are thankful to charts and Technical Analysis for giving us a clearer picture and making Decision making very simple for us....πŸ˜€πŸ˜Š

Couldn't have asked for more...

Yes you are right... PCR is below 1 now at 0.90... Can the markets go higher.... I wouldn't mind that either...

Remember our post on January 6, when Nifty was at 14199...



since then despite all the roller coaster rise we have seen, on a broader picture, Nifty is just 40 odd points flat...
Reply
great analysis
Reply
@jitmanyuone, Welcome...😊
Reply
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