Nifty : Will it get resisted at trend line...???

Nifty
CMP 10298

Last time we exited from our Short position in Nifty at 10072 sensing a bounce back.

We expected the bounce to get halted in the 10200-10240 zone however there were no signals of initiating a short position...

In the current set up at cmp & on any rise if gets rejected around 10340-10360 may be a good shorting opportunity for initial target of 10180

Keep a small 30 point SL

Take care & safe trading...!!!

Trade closed: target reached:

Was expecting a bounce in Nifty from 10245 levels. Nifty opened weak but recovered and went in to green in 1st half on expected lines and then we saw it getting rejected.... and fell all the way down hitting our target of 10180....

We close our position and wait on lifelines for next trading signal....

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Cheers & happy trading...!!!

Regards

Indiamarketoutlook