Hi friends mates and Trading community so here i am sharing my new trading idea on Nifty, As we all know that on the last trading session that index made new all time high although it was very marginal with the difference of only two points up from previous all time high and luckily i got my target for previous shared idea but yes we got a new all time on board finally, and i must say in this rally we saw the participation of some economy facing companies and constituents of this index like Reliance industries, state bank of India, Bharat petroleum and Infosys mainly they all made their 52 weeks high too and the major stake holder of index is Hdfc bank looks also stable somehow so i feel that we can see 23000 levels in coming sessions but as we know that feelings are having no price in this Merciless market so i prepared a chart for my trading executions in it sharing key levels below mates.
So let's quickly talk about my trading idea friends-:
Trade One-: So as we got a clear rejections from 22125 levels finally as a strong resistance we can see 23000 (psychological digit) and 23133 after mentioned resistance break and close above, Target marked by the distance between swing high (previous all time high) and swing low after that high.
Trade Two-: So 21800 (support) could be a key level on which i focused mainly in previous idea as a resistance and in this idea after breaching that resistance made new all time high and after retested that resistance as a support this time so if this support will break we can see 21500 and 21200 as a target for this trade idea.
Above mentioned trade ideas will be applicable on daily candle above or below closure, Rest if i will find anything important about this publication will update accordingly.
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
"In the long run, we are all dead" (John Maynard Keynes)
So let's quickly talk about my trading idea friends-:
Trade One-: So as we got a clear rejections from 22125 levels finally as a strong resistance we can see 23000 (psychological digit) and 23133 after mentioned resistance break and close above, Target marked by the distance between swing high (previous all time high) and swing low after that high.
Trade Two-: So 21800 (support) could be a key level on which i focused mainly in previous idea as a resistance and in this idea after breaching that resistance made new all time high and after retested that resistance as a support this time so if this support will break we can see 21500 and 21200 as a target for this trade idea.
Above mentioned trade ideas will be applicable on daily candle above or below closure, Rest if i will find anything important about this publication will update accordingly.
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
"In the long run, we are all dead" (John Maynard Keynes)
Comment:
In the last trading session index closed below mentioned support of 21800 and the closing price was 21782 and today made low 21574 more than 200 points down from previous closing and giving initial signs too for coming weakness so from here good trailing stop loss (21800) is in hands for short positions because i believe that mentioned support in description will act as a strong support from there and and any rejections near support will be a fresh short opportunity too.
Comment:
Price reached 21530 very close to mentioned target of 21500 from 21782 was a sell trigger according to description added in idea but unable to complete the target so far was missed by some points so now will follow the same strategy which i mentioned in update above friends that will trail stop loss to cost as a security of my active trade.
Comment:
Trailing Stop loss Update-:
After support (21800) break yesterday price reached 21530 close to mentioned target of 21500 but some how it missed 300 points target by the 30 points and trailing stop loss triggered for short positions it was a hard luck nothing else, So now will not update any support break trade for this publication if it will break again only target will be update or i will update next time when it break mentioned resistance.
After support (21800) break yesterday price reached 21530 close to mentioned target of 21500 but some how it missed 300 points target by the 30 points and trailing stop loss triggered for short positions it was a hard luck nothing else, So now will not update any support break trade for this publication if it will break again only target will be update or i will update next time when it break mentioned resistance.
Comment:
Resistance Break Update-:
Hello traders sharing update regarding resistance break and close above as i wrote in update above i will update this publication only after resistance break which i mentioned in idea description so by today's day close we got a close above at marked resistance 22126 yesterday we missed by two only points that was the reason i didn't update yesterday, So now from here this resistance (22126) will play a good role of support if price will sustain above with bullish strength and sentiments.
Hello traders sharing update regarding resistance break and close above as i wrote in update above i will update this publication only after resistance break which i mentioned in idea description so by today's day close we got a close above at marked resistance 22126 yesterday we missed by two only points that was the reason i didn't update yesterday, So now from here this resistance (22126) will play a good role of support if price will sustain above with bullish strength and sentiments.
