Nifty: Pullback Idea

NSE:NIFTY   Nifty 50 Index
Notes on the chart.
Good Luck.
Comment: Strong push up. Looking for my targets, but upmove might not be as easy as it looks.
All the best.
Comment: We are in resistance.
Comment: Could not sustain in the resistance zone shown in the above update and's bleeding.
Sell the rallies still intact for me.

(Only Candle closings above the Fridays highs on H chart would need reassessment).
Comment: 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
If we have a confirmed breakdown below 11250, I ll be shorting and watching for 11080-11100 zone for a complete reversal.

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.
in tradingview - i believe only ur post after abhishek is clear and simple for all reader to understand ..
KumarAbhilash KumarAbhilash
@KumarAbhilash, i shall not say after with abhishek
Bravetotrade KumarAbhilash
@KumarAbhilash, I ll take it as a complement..thanks.
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