Nifty: Will Monday be a down day...???
Updated
Nifty
CMP 9642
Observations from the chart
- This is a 30 minutes candle chart
- 9640-9650 zone as can be seen acted twice as resistance initially
- Then subsequently it provided support on 4 occasions
- Currently Nifty looks likely to be in small down trend
- If Nifty closing is below 9640 then probability of downside might increase
For the current set up
Target - 9580 - 9560
Stop loss - 9666
Time frame till Monday
Review your risk:reward & your trading plan
&
Plan your trade accordingly
Take care & safe trading...!!!
CMP 9642
Observations from the chart
- This is a 30 minutes candle chart
- 9640-9650 zone as can be seen acted twice as resistance initially
- Then subsequently it provided support on 4 occasions
- Currently Nifty looks likely to be in small down trend
- If Nifty closing is below 9640 then probability of downside might increase
For the current set up
Target - 9580 - 9560
Stop loss - 9666
Time frame till Monday
Review your risk:reward & your trading plan
&
Plan your trade accordingly
Take care & safe trading...!!!
Trade closed: stop reached
Nifty crosses 9666Exit from short position with minor losses if closing is above 9666
Take care & safe trading...!!!
Note
Nifty despite a flurry of 30 point up move in late Friday session, it still struggled to close above the resistance top of falling channel.Note
Nifty forming a doji candlestick right at channel resistance suggesting indecision
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