20th Sep '24 - Last week's stance change paid off, Nifty up 1.9%
Nifty Stance Bullish ️⬆️
Back-to-back 1.9% weekly moves, Nifty moves an astonishing 953 points over the last 2 weeks. There is nothing that could possibly stop this train.
What is more interesting is that 100% of this move came on Thursday + Friday, till then Nifty was flat and would have given the impression that the week may be going sideways. The good thing is that we started the week with a bullish mindset, ensuring we did not run into losses, unlike many professional traders who lost a lot on Friday alone.
The losses on Friday for those who traded Sensex were because of the 1.3% sudden move that came in a range of 8 minutes, it really looked inorganic and manipulative. These days, it is quite easy to predict when the HFTs are gearing up to deploy their stop loss hunting, the wiser strategy is not to play.
For the next week also, we wish to maintain the bullish stance and would like to switch back to a neutral stance only if we drop below 25528.
Back-to-back 1.9% weekly moves, Nifty moves an astonishing 953 points over the last 2 weeks. There is nothing that could possibly stop this train.
What is more interesting is that 100% of this move came on Thursday + Friday, till then Nifty was flat and would have given the impression that the week may be going sideways. The good thing is that we started the week with a bullish mindset, ensuring we did not run into losses, unlike many professional traders who lost a lot on Friday alone.
The losses on Friday for those who traded Sensex were because of the 1.3% sudden move that came in a range of 8 minutes, it really looked inorganic and manipulative. These days, it is quite easy to predict when the HFTs are gearing up to deploy their stop loss hunting, the wiser strategy is not to play.
For the next week also, we wish to maintain the bullish stance and would like to switch back to a neutral stance only if we drop below 25528.
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