Nifty Long above 17160.

Mar 18, 2023

Hello, I would like to propose a trade regarding the Nifty index that I believe could be profitable. After analyzing a bullish pattern, I suggest going long on the index if it exceeds the 17160 level. It's important to note that this entry is only valid if the 30-minute candle closes above 17160, and we should wait for a retest before entering the market. Therefore, it's not advisable to long the index before the 30-minute candle closes above 17160. I will keep you updated on when to execute the trade.

Additionally, it's crucial to limit your risk to 1/3 of your normal risk. For instance, if your normal risk is 21000, then only risk 7000 in this trade.

The target for this trade is around 280 points with a maximum stop loss of 150 points. Please keep in mind that this is a positional trade and could last for a few days. I will keep you informed of any further updates. However, please note that this is not financial advice, and it's best to consult a licensed financial advisor before making any investment decisions.

Mar 20, 2023

Note

Since there has been no breakout in the market, I have refrained from taking any trades. However, this idea is no longer viable, as the market witnessed a decline today. I will provide an update on when to initiate trades, and therefore, it is recommended that you follow me to receive the latest information. I extend my gratitude to those who have already followed me. If you have any insights, feel free to share them in the comment section.