Nifty- Its Wedge Again? (Sell Only Below 15900)

NSE:NIFTY   Nifty 50 Index
Sell Trades Only Below 15900
Comment: 02:32 pm / 15th June 2021

Last @ 15882

15900 Level Holds. Index had sharp fall to 15855 intraday & bounced back retesting close to 15900.

Bulls can become active only if they cross above 15900 levels & our latest idea will be invalidated

Intraday Profit booking zone – 15840 to 15850 / if dips below 15840- traders can hold their sell trade.

Thanks & Have a wonderful day.
Comment: 03:31 pm- Update 3/15th June 2021 - Nifty Index

Last @ 15858

Day Low @ 15855

Intraday Target Zone 15840-15850 is almost reached. Thanks
Comment: 13:14 Hrs / 16th June 2021

Last @ 15788

Day Low @ 15755

Intraday 15750-15760 is the support zone & holding that zone -Index can do bounce upside
Comment: 13:43 Hrs / 16th June 2021

Last @ 15799

Bounce is for risky traders because Intraday trend is down & breaking of 15750-15760 it will be on its ways again for down move.

Minor resistance zone where nifty can halt its bounce 15815-15820 zone

Hope you enjoyed the move from the tops of 15900

Thanks & Have a wonderful week ahead.
Trade closed: target reached: 08:44 Hrs / 18th June2021

Nifty cracks & achieves 15900 to 15616 holding above 15606 - key level mentioned in the update.

Hope you enjoyed the fall. Thanks
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Hi Abhishek, far OTM Put option longs were trimmed since the day's start. Just wondering if it's just normal activity to close the longs, or were they anticipating a huge fall. I mean even 15000 pe longs were closed.

Also, the Fed meeting..do you anticipate any material impact on Indian markets before expiry?
+2 Reply
@pakshi, Unfortunately, I am not the correct person to comment on options.
pakshi AbhishekHSinghCMT
@AbhishekHSinghCMT, No worries. we'll know tomorrow :)
Thank you
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+2 Reply
Thank you
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tgt almost achieved!!
superb analysis sir.
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Thank you
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Morning Entered short at 15800 and booked 40 points. But I missed to read the updates for Long trade. Again in the afternoon went for short near 15820 with as below 15900 shorts to target of 15680 is possible as per our earlier idea. So did Short. Now carried the position with a Hedge. Made money Thanks
sir, any intraday idea(levels) for this current ongoing idea. where to book profit,where to initiate fresh short.