Nifty: Will Wait for the Price Action Conformation
Updated
Hello,
Right now Nifty is trading in the no trade zone.
There are two important level for the Nifty: 1st: 11200 and 2nd: 11050
Importance of 11200 level: In intraday if Nifty will trade above 11200 but not above to trade or sustain above 11250 then I will consider this as a fake upside move but in intraday if Nifty will sustain above 11250 and give close above 11200 then there is a very high chance to see more upside.
Importance of 11050 level: In intraday if Nifty will sustain below 11050 and close below this level then there is a very high chance to see more downside.
I will wait for the price action conformation before I will take any side if trade.
I will update further levels in this post after the price action conformation.
Thank You :)
Gr8 Weekend
Right now Nifty is trading in the no trade zone.
There are two important level for the Nifty: 1st: 11200 and 2nd: 11050
Importance of 11200 level: In intraday if Nifty will trade above 11200 but not above to trade or sustain above 11250 then I will consider this as a fake upside move but in intraday if Nifty will sustain above 11250 and give close above 11200 then there is a very high chance to see more upside.
Importance of 11050 level: In intraday if Nifty will sustain below 11050 and close below this level then there is a very high chance to see more downside.
I will wait for the price action conformation before I will take any side if trade.
I will update further levels in this post after the price action conformation.
Thank You :)
Gr8 Weekend
Note
I am expecting big move in Nifty in the upside in coming days. But I wont trade base on my expectations, I will wait for the price action.
Trade active
Sold 11200 Put @ 55
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