Nifty Idea on next 1 week ( 22nd July to 31th July'2020) Short

Nifty 50 IndexNSE

Description

⋅ Jul 21, 2020 7:08 PM

We have hope trading vs reality trading.

Hope Trading:- All is well, the COVID vaccine in line and economy will bounce back.

Reality:- COVID is a reality, the economy will take years to recover and Nifty P/E 29.01 on 21st July.

RSI is at 52 week High

We are in PRZ - Price Reversal Zone so be cautious.

Wait for reversal signal on chart to short, blind short can make you start hope trading.

Comments

jambread

⋅ Jul 21, 2020 7:40 PM

Hi obvious questions we will all keep waiting for trend reversal and not sure if it’s going to happen.
No indicators as people are waiting on the fence to step in once market falls

abhishek9800

⋅ Jul 21, 2020 7:45 PM

yes but even short at these levels wont be a bad idea as nifty at supply zone and a push between 11000 to 10900 is possible .. what do u think

subhagghosh

⋅ Jul 21, 2020 10:25 PM

@abhishek9800, will wait for reversal.

Won't short blindly

jambread

⋅ Jul 21, 2020 7:42 PM

Banks have declared results and the markets zoomed again but tgeees a startling reality that businesses have changed gears and conventional ways of investments is not going to give returns