Risky Buy

NSE:NIFTY   Nifty 50 Index
110 3 1
Price at Lower median line of the schiff PF             . High risk long can be initiated with SL below 8470.
Trade active: Around 70 points from there.. Good to book part profits and keep trailing the remaining
Trade active: Close to 140 points done since then, time to tighten stops on remaining position.
Good Analysis. Do you expect a turnaround at the green line, which corresponds to around 8700 ?
Idiot ShanTrader
Hi Shan Ji
It is difficult to say as of now as to where the market will turn, but yes we can expect some resistance or perhaps a reversal around the higher median line of the small downward PF or the median line of the horizontal one. Adding a Fib retracement along with the PF sets shows 8738-8760 zone as potential resistance
Thanks. have a great and successful trades today
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