NIFTY EW

Short NIFTY at CMP or near/around 11720 (if comes/highly probable)

SL marked in the chart, but sustaining (day close) above 11720 will be a signal to cover at minimum loss.

Target 11395-11306->>>>

Trade active:

Now using 20 DEMA as CBSL for this trade. Intra booking part profit and re-entry using bounces will be a good idea.

Look for major Trendline supports, from where bounces might come..

Trade active:

This one is going well. But keep in mind that today is Friday and there's RSI divergence in weekly chart. So bounce will come next week which can be used to add more short.

Keep booking profit and reenter at high

Trade active:

All target done. So, can close here.

But, structure-wise one more low is yet to come which might stretch up to 1113X.

Keeping tighter TSL (20HEMA instead of 20DEMA) is advised..

No buying until TSL is safe.

Trade closed: target reached:

Hit TSl with a freak high, still 330 points done, good going.

It still has a potential to do 111XX with SL at today's high. Sell the bounce after it breaks yesterday's low.