Nifty: Pullback Idea

Sep 12, 2018

Notes on the chart.
Good Luck.

Sep 12, 2018

Note

Strong push up. Looking for my targets, but upmove might not be as easy as it looks.
All the best.

Sep 12, 2018

Note

Sep 14, 2018

Note

We are in resistance.

Sep 17, 2018

Note

Could not sustain in the resistance zone shown in the above update and bang..it's bleeding.
Sell the rallies still intact for me.

(Only Candle closings above the Fridays highs on H chart would need reassessment).

Sep 18, 2018

Note

Markets moved as per expectations. Bounced from support mentioned in the chart and reversed from the resistance mentioned in the post.
So far my views have been negative for the markets. And it made money, I must say.
Where we are right now is what I call confusion points.
Market has been making lower lows but there is divergence on RSI. In such situation market sometimes trap sellers before it gives a sharp bounce.
So we have to be careful of those seller traps below 11250. If market traps, gives bounce and do not show weakness before it closes above 11550, I ll v to reassess the situation
But..
If we have a confirmed breakdown below 11250, I ll be shorting and watching for 11080-11100 zone for a complete reversal.


Enjoy.

Sep 21, 2018

Trade closed: target reached

So market moved once again as per expectations. Yesterday we had closing below 11250 and see what just happened today.
Although market is looking weak, "I am done with shorting as of now". I v already booked all my profits at specified targets.
Hope u were with me during these ebbs and flows in the market.
Now I ll wait for the market to find a base or a direction.
Untill then, good luck.