PrasannaVasu

Nifty - Short Trade (Swing)

Short
NSE:NIFTY   Nifty 50 Index
Rational : Bearish Engulfing candle in Daily Charts . Price retraced to 50% of candle. RSI negative divergence. Thereby offering an aggressive Swing short trade setup with 2:1 initial RR.
Comment: Monday is NSE holiday. This need be kept in view if initiating this trade
Trade closed: target reached: Trade worked as planned. Gave 3:1 RR