NIFTY is trading in down trend. Plan for Short trades.

NSE:NIFTY   Nifty 50 Index
NIFTY is trading in a down trend. Weakness continued in nifty and prices struggling to move up. We can expect nifty to fall till price reaches the 9700 level support. Also if we observe the price action, doji candles shows still buyers are not in control to push prices up. So plan for the short trades till prices reaches the strong support.
Comment: Stopped out trade. Trade closed.


@Gaurav3413, Yes....nice observation.We can see in the chart more of red candles then the green. It means still sellers are in control and selling pressure continued. Also 10100 support is already violated. I expect prices to fall another 300 points from this level.

Happy Trading...!
Can i know what is target of short?
Reply SocietyPlayer


This analysis is based on 4H time frame. Entry - 10371.50, Stop Loss - 10436.50(65 Points) and Target - 10232.50(139 Points). RR is 2:1 ratio.

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