trap or trend

Apr 20, 2022

Look at the chart pattern formation . it is not indicating any trend.

Apr 24, 2022

Note

1. Nifty tried to break the levels of 17100 several times and failed past one month

2.This time again it is lying near the support level and may break the level and touch the low of 16825.
3. if we consider the following pionts:
Trend : day basis ---- bullish , hourly -- neutral, 5 min---- bearish .

4.Overall trend is bullish but the intermediate trend is bearish and as per the
trader equation is is always preferable to trade in direction of intermediate
trend. hence the trade to be followed in the bear side till a strong breakout is
seen on the positive/ bullish side.
5.if reversal is seen at the levels of 17100 target of target of 17900 can be seen.
17300 CE may be consider
6. Breakout below the levels of 17100 levels of 16252 can be seen.
17200 PE may be considered for this month and the next month f2nd week.
expiry.

Apr 25, 2022

Note

breakout happens ,, we see that nifty is trying to form trading range at lower levels so trade can be avoided as pull back is expected to 17140

Apr 25, 2022

Trade closed manually

May 8, 2022

Note

finally the trend made a follow through and we are near the levels of 16250... we can see the previous support of 16500 is broken and price is close is below 16450 we are seeing the that price is still clinging at the level of 16500 making the trade cautious at these levels as more price action has to be seen before the tradde has to be entered as the Bears are taking profits and the bulls are getting long at the levels so combined effect my move the price back to levels of 16750.. so be cautious and trade with strict stop loss.

May 8, 2022

Note

intermediate trend is still bearish ...

May 9, 2022

Note

target achieved... new longs can be created if support is taken at 16167 with target 16632 sl 16132

May 9, 2022

Note

partial profit to be booked

May 11, 2022

Trade closed: stop reached

exit