NSE:NIFTY   Nifty 50 Index
Nifty            
CMP 10118

If you have been following us, you will see we have been cautioning Nifty             since 10340-10398 levels. Last time target given was 10120.

It achieved that target on Friday and it has been 3 days since and Nifty             is still hovering at 10120 giving the red trend line it's due respect...

However the current set up suggests staying below 10200, Nifty             looks likely to get weaker and weaker...

Break of trend red line decisively or any rise towards 10180 - 10220 zone needs to be watched carefully. If price action gets rejected, then consider sell on rallies...

T1 9968

T2 9735

Take care & safe trading...!!!
Trade closed manually: Nifty
CMP 10072

World markets are down big time Hangseng, Taiwan, even Dax futures are down big time... And so expecting a big fall in our markets too becomes a little too easy and predictable...

And when every one is expecting some thing, there is more risk to it...

It may fall but just for the above psychological reason, we are closing our position at current levels and will be observers from sideline....

Take care & safe trading...!!!
Hi
I agree in toto with the views, at present what I am doing is as nifty comes near 10090, I go long and keep on trailing SL, yes 10200 - 250 are important levels from where any up move if it comes can reverse.
* Escorts call failed miserably :-)
Reply
@hotpot64, Hey, No worries with escorts...what was important was identifying levels where risk::reward ratio is better than 1::3 or at least 1::2 and stick to your plan... and in your case risk::reward ratio was good... better luck next time... :-)


Take care & all the best...!!!
Reply
balajiota hotpot64
@hotpot64, Fine tune your level to 10034 -74
Reply
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