Nifty- Triangle Sell -Target 16935 / 16800 (Stop Loss-17215)

Dec 1, 2021

Last Price - 17180 - 15:27 Hrs / 1st Dec2021

Sell Trade Invalidates Above 17215 ( Stop Loss - 17215)

Downside Targets
1- 16935
2- 16800

Dec 2, 2021

Trade closed: stop reached

Dec 2, 2021

Note

10:55 Hrs / 2nd Dec2021

Last @ 17271

Risky Trader Sell Stop has been taken as view was not valid above 17215 - Stops suggested.

Move currently unfolding is not impulsive so we have 80-90% chances that Index may attempt lower levels of 17065 / 16930

Bulls can become aggressive if 17325 level is crossed on upside.

Dec 2, 2021

Note

12:04 Hrs / 2nd Dec2021

Last @ 17289

Drops close from 17325 but makes a new high @ 17327 usually to throw out weak positions

Never ever keep a stop close to key levels - Key level was 17325 - It hits makes new high @ 17327 & drops

Price action is extreme choppy & we need to be careful close at 17325 as suggested @ 10:55 Hrs last above

Dec 2, 2021

Trade active

12:17 Hrs / 2nd Dec2021

Last @ 17290

Index most likely to spend some time in 17280-17325 (+ /- 25 points) doing choppy moves

Our current assumption is that distribution is going on in 17280-17325 zone

As a trader, don't trade on emotions or expectations. If Index jumps upside close to 17325 once again then be careful as U-turn should happen quickly - In other words- spending more time above 17325 - will be a warning sign that bulls are not ready to leave the market.