All bullish!! Overstretched!!

🟢#Nifty BO above monthly R2 and previous ATH of 19997 levels
🟢Festive/results season ahead. Nifty trading in blue sky zone.
🟢All averages & oscillators are bullish. RDX momentum score 5.
🔴Its near longterm trendline resistance connecting 6357-18604
🔴Index is little overstretched and trading far away from MA's
🔴Nifty reversed from traditional pivot R3 of 20200 yesterday.
🔴All US major indices broken the 20 DEMA average yesterday.
🔵Till the sell signal is not triggered, better wait on sidelines.
🔵Or buy-on-dips till 19883 is protected on a day closing basis.

Comment:

Standard Disclaimer:

All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members/followers learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max us e it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

🟠🟠🟠 Important Points To Remember: While trading never risk more than 1% capital per trade. While trading FnO always trade using risk defined strategies. NSE derivatives are leveraged 6-8x that means 12-15% move against you can wipe out your whole capital if the risk/money management is not proper. And stocks can easily move 10-12% due to some news. Before entering any trade see if the R:R is favorable or not.

Comment:

This is biweekly charts of Nifty. Not all is well. As per dow theory patterns repeat and so is the human behavior. As per my algo system #Nifty may notice price and time wise correction. 18100 may be seen in coming months. If long in markets must hedge the holdings and investments.

Comment:

Since the warning levels #Nifty is down by 700 points almost. With intermittent bounces we should see correction further.