Hey Guys,
In Part - I of Nifty trade Idea I have told, I will wait for pullback.As expected market made pullback to our expected levels and we have few gaps below 8290's which I expect to be filled soon. So, being conservative trader I am initiating longs around 8290's-8300's only part of my positions. So that if market moves down I will average, thats why marked the gap up with question mark.
The redline drawn was trendline from higher timeframe which is broken now , probably we may get small retest of the redline around 8420's to 8450's.Lets see what happens. Part-I is mentioned in related links. This is how you should stay consistent in your trade plan & wait for Markets to come to you, never chase markets.
Hit Likes to agree...
Thanks for your support... Happy trading !
In Part - I of Nifty trade Idea I have told, I will wait for pullback.As expected market made pullback to our expected levels and we have few gaps below 8290's which I expect to be filled soon. So, being conservative trader I am initiating longs around 8290's-8300's only part of my positions. So that if market moves down I will average, thats why marked the gap up with question mark.
The redline drawn was trendline from higher timeframe which is broken now , probably we may get small retest of the redline around 8420's to 8450's.Lets see what happens. Part-I is mentioned in related links. This is how you should stay consistent in your trade plan & wait for Markets to come to you, never chase markets.
Hit Likes to agree...
Thanks for your support... Happy trading !
Comment:
Bullish rally filled with Gaps - though we have to agree we are in strong uptrend with possible GST bill passage in coming weeks Nifty may get further momentum for another 300-400 points. But wait the story isn't all rosy here, in my experience spanning over 8 years seen that every gap needs to be filled , so the first Nifty gap @7200's.
I'm not saying it will crash today or tomorrow, can be in 6 months or year will definitely post here when that is about to happen..for now just note it & remember this logic, you will realize when the crash happens. Till then ride the bull wave up...
I'm not saying it will crash today or tomorrow, can be in 6 months or year will definitely post here when that is about to happen..for now just note it & remember this logic, you will realize when the crash happens. Till then ride the bull wave up...
Though there is small resistance around 8530's I hope that will be taken out. Lets watch what happens.