!!CAUTION!! IN NIFTY INDEX

PLEASE NOTE:-
THIS IS A VIEW ON NIFTY INDEX NOT A SUGGESTED TRADE
SINCE I DON'T TRADE WITH MONTHLY POSITIONS

!!CAUTION!! IN NIFTY INDEX
-AS WE SEE THERE IS A CLEAR DIVERGENCE IN NIFTY INDEX ON MONTHLY CHART
-MOMENTUM INDICATORS ARE LOSING MOMENTUM
-CLEAR "DIVERGENCE" IS VISIBLE ON THE INDEX MONTHLY CHART
-WE HAVE CLEARLY HIT RESISTANCE ON WEEKLY CHART
-DAILY CHARTS ARE SHOWING SIGNS OF REVERSAL

TRADEVIEW
:-I SEE FURTHER WEAKNESS
:-SINCE HOLIDAYS ARE APPROACHING NEXT MONTH I SEE LESS INSTITUTIONAL ACTIVITY
:-MONTHLY CHART DIVERGENCE IN PRICE AND RSI INDICATOR SHOWS BRUTAL DOWNSIDE
:-I HAVE STARTED TO ACCUMULATE NIFTY 26TH DEC PUT OPTION OF 12000 STRIKE PRICE(IN THE MONEY RIGHT NOW)

TRADE IN ACC. TO NIFTY SPOT RATE (PLEASE ADJUST FOR FUTURES)
SHORT @11950-11980
STOP @12100
TARGET 1@11820
TARGET 2 @11680

MORE TARGETS WILL BE VISIBLE AFTER THE ABOVE TARGETS ARE BREACHED

Comment:

Have added more shorts around 11980 and and 12050 stop increased to 12150

Trade active

Trade closed: stop reached