Nifty 50 IndexLong
NIFTY 50 24th DECEMBER 2024
Stop-Loss (Red Zone)(23680):
Your stop-loss is set below the recent swing low, which is a good strategy as it protects against potential downside movement if the price reverses.
Entry Zone:(23770)
It seems you are entering a long position (buy) in a consolidation phase after the price formed a possible higher low. This suggests you expect the price to move up toward the targets.
Target Levels (Green Lines):
1st Target (23,920.70):
This is a reasonable target, as it aligns with a previous resistance zone (from the left side of the chart). If the price reaches this level, a partial profit booking strategy can be applied.
2nd Target (23,973.75):
This is just above the 1st target, closer to the next resistance level. It's a logical continuation of the trend if momentum sustains.
3rd Target (24,009.20):
Your stop-loss is set below the recent swing low, which is a good strategy as it protects against potential downside movement if the price reverses.
Entry Zone:(23770)
It seems you are entering a long position (buy) in a consolidation phase after the price formed a possible higher low. This suggests you expect the price to move up toward the targets.
Target Levels (Green Lines):
1st Target (23,920.70):
This is a reasonable target, as it aligns with a previous resistance zone (from the left side of the chart). If the price reaches this level, a partial profit booking strategy can be applied.
2nd Target (23,973.75):
This is just above the 1st target, closer to the next resistance level. It's a logical continuation of the trend if momentum sustains.
3rd Target (24,009.20):
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