Nifty is sideways after 19 oct 2021 after making an all time high of 18604 currently trading at 16100 down 13.5 % , The pain is more in IT sector as from all time high it corrected nearly 30%.
This correction is also happening in price as well as time If you see last 6 month there is no returns in NIFTY Forget about returns many of my known investors are in loss.
The corection phase where market is currently in every dip looks a buying opportunity , obviously it is a buying oppotunity but you need to be very choosy and every position should be with stop loss.
You will lose more often in this sideways but when you see trade going in your favour try to hold it with same stop loss. Let market take its time.
For Very short term I see a breakdown in coming days there is no News behind it it is just the observation of the consolidation patterns breakout in recent 6 month.
This correction is also happening in price as well as time If you see last 6 month there is no returns in NIFTY Forget about returns many of my known investors are in loss.
The corection phase where market is currently in every dip looks a buying opportunity , obviously it is a buying oppotunity but you need to be very choosy and every position should be with stop loss.
You will lose more often in this sideways but when you see trade going in your favour try to hold it with same stop loss. Let market take its time.
For Very short term I see a breakdown in coming days there is no News behind it it is just the observation of the consolidation patterns breakout in recent 6 month.
Trade closed: stop reached