Sacredmonkey

Nifty Trading Plan - 7th July 2021

Short
NSE:NIFTY   Nifty 50 Index

Summary

l HTF is again is bearish zone. DTF has a "Inverted Pin bar" candle, which infers "NEGATIVE" BIAS".
l Pivot analysis infers TRADING RANGE DAY bias and due to wide range CPR .
l 15916 to 15885 is a resistance level and any weakness at this zone should be a selling opportunity.
l Support levels 15793/15735
l Resistance levels 15916/15879.
l Market is moving in a very tight range and volatility is getting contracted every day, which infers there is huge move coming.
l As long as price is above MPP, scalp for short positions. Post it breaks 1596 zone with a bearish candle. Start shorting with 1:2 ratio. Until then am bullish .


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Step 1 - Strategies to be deployed -

l Open drive rejection.
l PPT .
l Evening star .
l RCR
l CPRRVL

Step 2 - Trading Plan

1. Any bullish PA above 15850 is quick scalp with stop of 15831 and target of 15882 .
2. Any bullish PA above 15916 is long with stop of 15898 target of 15946.
3. Any bearish PA below 15842 is short with stop of 15864 and target of 15809 .
4. Any bearish PA below 15798 is short with stop of 15820 and target of 15774.


This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.

Have a nice day!!
@Sacredmonkey
Trade closed: target reached: plan 3 done
Trade closed: target reached: Plan 1 done

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