Nifty: Is Nifty Feeling the October heat near resistance zone?

NSE:NIFTY   Nifty 50 Index

- We are looking at daily candlestick chart


- On 16 Sept Nifty opened gap down between 17877 to 17796
- coincidently Nifty 76.4% retracement level is also around same level 17777
- for 4 consecutive days Nifty is struggling at 17800 levels
- With 1 hour's trade to go today volume is on a lesser side

Given the conditions, fresh longs in Nifty can be avoided.
Have bought a few Put options for 24 November expiry.
Review points for me - View gets invalidated if Nifty trades above 17880
Please follow your risk management measures

Take care & safe trading...!!!

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