dravya

NIFTY - FOR EVERY TREND FOLLOWER

Long
dravya Updated   
NSE:NIFTY   Nifty 50 Index
TREND IS YOUR FRIEND,

For various trend following reasons,
I'd go long on nifty unless there are signs of reversal.

Here,
on this chart I have marked price points .

1. Aggresive high volume traders -
Entry - 8428
SL - 8413 ( 15 point risk )
Target - 8460 ( 32 point reward )

R:R = 1:2


2. Positional/Swing Traders -

Entry - 8410-8430
SL - 8368 ( 40-60 points risk )
Target - 8460+ ( depends on the price action later as it forms )

R:R = Good ( target would be following the trend, so no pin point)


3. Opportunistic Traders ( Min Risk | Max Reward )
-

Entry - 8383
SL - 8368 ( 15 points risk )
Target - 8460 ( 77 points reward )

R:R = 1:5

Glad to help.
I hope you like it.



I hope you are liking the charts,
I will try to do my best,
thanks for the immense love shown.

Comment: Gap down opening below SL 1,
and then very strong bearish candles.

So, no long trade done.

All probables cancelled.

You can see the reaction on the lines though, how they held significance.

Thanks.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.