Nifty : Clearly A Bull's Trap
Updated
Nifty has shown a hollow strength above 25600 and 26277 with lesser volume than breakout.
In this fall If Nifty closes below 25500 then this uptrend will be proven as Bull's Trap.
close all your long position below 25500 or close all short positions above 26200.
Beware that This Oct,2024 might shake all your stock market related assumptions.
I am hoping a BIG correction or trend reversal for a longer time frame.
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
In this fall If Nifty closes below 25500 then this uptrend will be proven as Bull's Trap.
close all your long position below 25500 or close all short positions above 26200.
Beware that This Oct,2024 might shake all your stock market related assumptions.
I am hoping a BIG correction or trend reversal for a longer time frame.
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
Trade active
A weak pullback upto 25400-25500 may be seen. But It will create a Head n Shoulder Pattern to further decline below 24650 it may touch 23250 in it's downtrend.
If Nifty sustain above 26000 then downtrend may not occur in near future.
In my opinion Wait October 24 for any buying. In last week a strong movement may happen (might be in lower side).
Trade active
final leg of correction will start tomorrow or in few days.
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