Mighty Nifty - North or South?

NSE:NIFTY   Nifty 50 Index
461 25
Price action is moving in downward channel , making lower highs and lower lows. The trend deciding levels will be 9590 and 9630. Price will move down if 9590 is taken. And in upside 9630 have to be taken to make the trend bullish . Traders may get confusion, but nifty is always clear about its direction. Did I explain properly or made you people confused?
Trade active: This idea is active from now on!
Comment: Gap up opening. Enter after watching price action.
Comment: Will nifty take support @ 9630?
Comment: Nifty surprised us by gap up opening followed by sideways movement today.
Trade active
Trade closed: target reached: 9700
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Good prediction / assessment, the levels were correctly / critically gauged. One has to be patient , understanding and take a cautious
action for the trades.
Ramakrishna K
vanathi mkramki
@mkramki, I agree...
I am short in Nifty at 9500 levels.. Will it touch this level again in this series?
vanathi Kumarumar
@Kumarumar, Nifty is still bullish, not showing the sign of weakness.
Kumarumar vanathi
@vanathi, Thanks for the update. But is it advisable to book losses or wait for June - July series for a breakeven?
vanathi Kumarumar
@Kumarumar, When you shorted nifty, you should have some trading plan regarding stoploss, targets. Follow it.
Kumarumar vanathi
@vanathi, Agree.. Lesson learnt.
vanathi Kumarumar
@Kumarumar, When you follow trading plan, confusions and loss will be minimised.
Kumarumar vanathi
@vanathi, Agree.. currently trapped badly.. Lets see how next week goes.. Thanks again for your time.. Appreciate it.
Kumarumar vanathi
@vanathi, Or what is a possible hedge for this, so I can minimize losses. Should I buy the calls to hedge and limit the losses? But calls are also expensive now as it is just start of month :(
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