Last week rally had a correction of more than 250 points after the weekly expiry
Wait for signals to know if the correction is Retracement or Trend reversal
Follow the blue and Grey channels
Sell : At the top channel lines / Break downside of channel
Buy : At the bottom channel lines./Break upward channel
If the down trend follows, Supports at 19680,19640 19550 and 19550
If the uptrend follows: Resistances at 19850 19900. Breach of 19900 can test 20k and 20.3 k in the near term
Disclaimer : Ideas listed are My Trading analysis and Notes/journals.
These are NOT recommendations for Buy /Sell.
Do your own analysis before jumping into any trade/Investment.
Learn and then Earn.!
Wait for signals to know if the correction is Retracement or Trend reversal
Follow the blue and Grey channels
Sell : At the top channel lines / Break downside of channel
Buy : At the bottom channel lines./Break upward channel
If the down trend follows, Supports at 19680,19640 19550 and 19550
If the uptrend follows: Resistances at 19850 19900. Breach of 19900 can test 20k and 20.3 k in the near term
Disclaimer : Ideas listed are My Trading analysis and Notes/journals.
These are NOT recommendations for Buy /Sell.
Do your own analysis before jumping into any trade/Investment.
Learn and then Earn.!
Comment:
24 Jul : Still trying to figure out the trend. so far Bearish to sideways
Comment:
19670-700 supports .once channel breaks will enter
Comment:
19720 -19760 is next Res for the retrace.
support 19640-19690
support 19640-19690
Comment:
So far, Nifty nicely playing within the channel
Strategy : Long in Low of the channels and Sell in High of channels.
If Channel breaks, follow the breakout
Strategy : Long in Low of the channels and Sell in High of channels.
If Channel breaks, follow the breakout
Comment:
Blue(line) channel is broken, adding the longs..and with sharp SLs
Trade closed: stop reached