NIFTY INDEX UPDATE

*heavy selling pressure in nifty near 17350-17360 in futures
*market will remain in selling pressure below 17400-17430 (no trade zone)
*after usa market accenture result IT SECTOR can provide stability
*but i will not be in shock that the initial hour rally will be sold into
*rising usd/inr good for IT sector(over valued)/bad for financials
*ecb raising interest will have negative impact on markets(financials)
*you saw what happened in usa market one day positive rally got sold into
*develop markets will attract institutional money in fix interest instruments
*Fii selling pressure may continue you may see one odd day of buying but selling will continue
*Rising inflation is a worry all over developed nations
*Rising covid cases all over the world is good for stock markets

OVERALL OBSERVATION
*MARKETS CAN TAKE A BREATHER AND SUCH IN THE BAD NEWS
*CORRECTION IN INDIAN MARKETS TILL 16000-16300 CANNOT BE RULED OUT
*IT TAKES A LOT TO TURN ME INTO A BEARISH TRADER(MY PERSONAL VIEW)
*THIS VIEW OF 16000-16300 WILL BE OVER ONLY IF NIFTY CLOSES ABOVE 17630(WEEKLY BASIS)
*THIS IS MY PERSONAL VIEW NOT RECOMMENDATION

NIFTY TRADE POSITIONAL
SHORT@17230(BELOW)
STOP@17370
TARGET@17070-16980-16850
*initial view if index breaks below 16850 and closes below it
*then target will be raised further down towards 16300-16500

NOTE
*once in profit and first target is achieved
*trail your trade to short price so it becomes no profit no loss trade
*do not overtrade
*for more index and stock updates check the link in the signature box below
*shorts are active already check out the link
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Trade closed: target reached:

FIRST TARGET REACHED
17030 TILL NOW
200 POINTS DONE NOW
NOW THOSE POSITIONAL TRADERS STOP IS SHORT ENTRY PRICE
SO YOU CAN STAY POSITIONAL WITH THE FEAR OF LOSING MONEY

Trade closed: target reached:

ALL THREE TARGETS HIT
NOW LOOKING FOR 16300-16500
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Trade closed: target reached:

BOOKED COMPLETE@16450
MORE THAN 800 POINTS PROFIT
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