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MehulJain3a
Dec 2, 2016 12:13 PM

Nifty The Big Short Short

Nifty 50 IndexNSE

Description

NSE:NIFTY

Big Pin Bar on weekly charts
indicating huge selling pressure.



ALWAYS SHORT WHEN U SEE BIG PIN CANDLE. STOP LOSS ABOVE THE CANDLE & EXPECT BIG TARGET

HIGH REWARD LOW RISK.


Sell Range - Rs8050 to Rs8200
SL - Rs8345 (daily Close)
Target 1 - Rs7700
Target 2 - Rs7400
Target 3 - Rs7250

Potential Return - 11%
Potential Loss - 4%

Comment

Comment

Comment

to see previous idea on nifty click on above chart

Trade active

opened short @ 8235

Comment

closed @ 7976

Comment

nifty may try to test 7930 level, but if unable to break tomorrow nifty can reverse back to 8050 or 8100 levels.

think it as a selling opportunity.

note : don't be on buy side in downtrend market. trade with the trend.

Comment

Comments
amitbnl07
MehulJain3a
@amitbnl07, nice work
amitbnl07
MehulJain3a
guys... nifty might trade sideways...n try to test 7930. don't trade in sideways market...wait for nifty to retrace back to 8050 or 8100 level to grab selling opportunity.
i'll keep u updated with the trade...

previous trade details : Sell at 8235 & closed at 7976, so total profit 259 points. ( 1 lot profits - 259*75= Rs19425)
MehulJain3a
and falling market people panic, have fear and sell.
that is common or i should say basic human behavior.

so it good to take advantage of this and be on right side of the market, instead on the wrong side (where 99% end up)

neneram
@MehulJain3a,
Good Luck !!
MehulJain3a
@MehulJain3a, and their big difference between in Investor & Trader. ( Investor will only enter in F&O to hedge and even if they loose it won't matter them, because it's like paying premium to your Life Insurance Policy)

trader will do daily buying and selling,
neneram
@MehulJain3a,
Stop Loss exited , or still holding short ?
MehulJain3a
@neneram, closed @ 7970...
neneram
If it's that simple all FII would be overwhelmingly short on NIFTY (Refer the first comment about reversal and continuation)

Keeping the stop loss at top of such big pin bar and taking trade is no trade for common investors. (No analyst will take such trade)


Best way is to wait and If there is no follow through on pin bar take long position with stop loss of bar after pin bar ,
But if the bar after pin bar is above or very close to top of pin bar don't take the trade market can go side ways till budget.
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