Selling oppurtunity in Nifty
Updated
Nifty
Since the Price is falling I will be looking to short the index
Price probably took some support 17880
Since Price has fallen 230 points from day high ,expecting a small retracement or pull back in intraday.
So many supply areas has been created but 18000 being a psychological level ,I'm going with that one.
With small SL of 40 points we can short nifty 17965 with a SL of 18005
With an ATM option this will be Approximately with a risk of 1000 rs per lot.
PS: Price might not come back also.
**Before 17965 If a RED candle closes below 17880 I might plan the trade differently.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Since the Price is falling I will be looking to short the index
Price probably took some support 17880
Since Price has fallen 230 points from day high ,expecting a small retracement or pull back in intraday.
So many supply areas has been created but 18000 being a psychological level ,I'm going with that one.
With small SL of 40 points we can short nifty 17965 with a SL of 18005
With an ATM option this will be Approximately with a risk of 1000 rs per lot.
PS: Price might not come back also.
**Before 17965 If a RED candle closes below 17880 I might plan the trade differently.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Note
So Many stop losses of people who shorted the markets are hit now.Note
If anyone entered at that peak you would have achieved your 1:1 RR Better to exit half quantity. SL to be at Cost.
If you like my analysis let me know by giving a boost.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.