Nifty: Sell on rise... Short

Nifty 50 IndexNSE

Description

⋅ Jul 3, 2017 6:23 AM

Nifty
CMP 9606

Sell on rise will hold true if Nifty stays below 9648 levels on closing basis...

NIfty is at 61.8% Fibonacci retracement level of the fall from 9710 levels to 9448.

& 9648 represents 76.4% retracement level

We look to sell Nifty if it is to get resistance in this zone of 9610-9648

Take care and safe trading...!!!

Trade active

⋅ Jul 3, 2017 6:24 AM

Trade active

⋅ Jul 4, 2017 6:58 AM

Nifty
CMP 9596

This is a 15 minute chart view

As per our trading plan short positions added near Nifty 76.4% Fib level

Nifty opened right at 76.4% Fibonacci level...gave ample time to take position.

Booking partial profits here

Take care & happy trading...!!!

Comments

hotpot64

⋅ Jul 4, 2017 6:59 AM

Hi
What are the targets you are looking at ?

indiamarketoutlook

⋅ Jul 4, 2017 7:25 AM

@hotpot64,

hi
its still early days... so trading cautiously and looking for small profits in between...

but if this zone holds as resistance then slowly and steadily nifty may fall back to 9480-9450 zone and if that is taken down then we will be looking for swift movement towards 9280 levels