NIFTY50 BEAR TREND STARTED
Updated
Greetings everyone,
I am of the opinion that either the NIFTY50 or the entire market is entering a bearish trend. Starting from today or possibly in the upcoming week, it seems likely that the market will commence a downward trajectory. This projection is based on two potential factors:
Observation of a Head and Shoulders pattern.
The breach of an important support level.
Key Levels:
Entry Range: 19200-19250
Stop Loss: 19600
Target 1: 18900
Target 2: 18600 (There is a considerable chance of attaining this target.)
Target 3: 18200
Strategies to Consider:
For those involved in options trading: Consider a small hedging strategy.
For those engaged in futures trading: Implement a strict stop-loss strategy.
Important Note: Make risk decisions in line with your available capital. It is strongly advised to refrain from trading with borrowed funds or your entire savings, drawing from personal experiences.
I am of the opinion that either the NIFTY50 or the entire market is entering a bearish trend. Starting from today or possibly in the upcoming week, it seems likely that the market will commence a downward trajectory. This projection is based on two potential factors:
Observation of a Head and Shoulders pattern.
The breach of an important support level.
Key Levels:
Entry Range: 19200-19250
Stop Loss: 19600
Target 1: 18900
Target 2: 18600 (There is a considerable chance of attaining this target.)
Target 3: 18200
Strategies to Consider:
For those involved in options trading: Consider a small hedging strategy.
For those engaged in futures trading: Implement a strict stop-loss strategy.
Important Note: Make risk decisions in line with your available capital. It is strongly advised to refrain from trading with borrowed funds or your entire savings, drawing from personal experiences.
Trade closed: target reached
ON 26th Oct we have achieved our target and Nifty touched 18837 low which was our knees.
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