Nifty
there are two ABCD reversal patterns one at 10971 another at 11112. XABCD also forming at 11098
There is also a resistance around 11100
In hourly it has given a breakout. So my trade would be -
Buy on break of Friday's day high (around 10935) with SL at 10860.
At 10975, either book profit or move SL to cost as it is a potential reversal zone.
If crosses and sustains that level, next stop would be around 11080 - 11100
This is the place to sell with SL at 11250 for 10800
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.
There is also a resistance around 11100
In hourly it has given a breakout. So my trade would be -
Buy on break of Friday's day high (around 10935) with SL at 10860.
At 10975, either book profit or move SL to cost as it is a potential reversal zone.
If crosses and sustains that level, next stop would be around 11080 - 11100
This is the place to sell with SL at 11250 for 10800
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.
Note
had bought CE in the morning.. booked half holding halfNote
will enter shorts around 11100-11150
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