Nifty 50 IndexUpdated 17800 or 16930 - Which will we see First next Week ??
In continuation of previous post where we asked the same question..and you can notice Friday's close 17374 is kind of midway between these levels (just trivia..nothing significant)
Last Week we didn't see either of the levels 16930, 17800 and Nifty moved in 17050-17600 range. It's possible Nifty might see one of the levels in the coming week.
For now, the chart settings are similar to previous post and explained below:
Upside:
Go long as long as Nifty stays above the Thick Red line. Important Resistance is 17667.
Keep the Red line as your Stop Loss, but you can choose any level above it as SL depending on your Risk Appetite.
Downside:
Short Nifty as long as the index stays below the Red Line. Very important support is 17244. To be extra safe, you can short nifty if it falls below 17244.
Keep the Red Line or 17244 as SL.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Last Week we didn't see either of the levels 16930, 17800 and Nifty moved in 17050-17600 range. It's possible Nifty might see one of the levels in the coming week.
For now, the chart settings are similar to previous post and explained below:
Upside:
Go long as long as Nifty stays above the Thick Red line. Important Resistance is 17667.
Keep the Red line as your Stop Loss, but you can choose any level above it as SL depending on your Risk Appetite.
Downside:
Short Nifty as long as the index stays below the Red Line. Very important support is 17244. To be extra safe, you can short nifty if it falls below 17244.
Keep the Red Line or 17244 as SL.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Note
16930 won here.No prizes for guessing the answer..
Disclaimer
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