Nifty has formed a bearish sort of a structure on the daily chart, making a low of 17613 on 29-10-21. Since then it has pulled back to the 20EMA and has formed a bearish continuation bar to the downside today. A short position could be considered keeping the following levels in mind:
SHORT BELOW: 17958
STOP LOSS: 18132
TARGET 1: 17784
TARGET 2: 17610
Please do wait for at least a 15 min candle close below the "SHORT BELOW" level before initiating the trade.
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Manage risk properly and trade your plan.
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SHORT BELOW: 17958
STOP LOSS: 18132
TARGET 1: 17784
TARGET 2: 17610
Please do wait for at least a 15 min candle close below the "SHORT BELOW" level before initiating the trade.
_______________________________________________________________________________________________________________________________
Manage risk properly and trade your plan.
Like and follow for more. :)
Trade closed: target reached:
Target 1 reached at 17784.
Trade closed: target reached:
Target 2 reached at 17610.