vanathi
Short

Mighty Nifty - Ready to retrace!

NSE:NIFTY   Nifty 50 Index
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12
533 17
Sell nifty below 9380 with the stoploss of 9400. Targets are 9360 and 9340. Analysis is based on trendline . support/resistance and RSI .
Trade active
Comment: Will nifty hit my stoploss today?
Trade closed: stop reached: Nifty wants me to post new chart. Thank you Mighty Nifty!
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Comment: Risk Assessment of being an author : Completed Risk management : Completed Antivirus : Installed. Threat elimination plan : Completed. Real time test : Completed. Threat elimination plan : Initiated. Status : In progress. Thank you Mighty Nifty for making this post to reach more readers!
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Having read the comments of fellow traders I feel bad and would like to submit that the analysis of stocks is seen with different angles and no two analyst can have identical views. As such wrong to state that nifty is bullish and cannot retrace. It is likely that tomorrow nifty may fall. PE of Nifty is above 25 and difficult to sustain but still nothing can be said as stock market works on probabilities and not certainty. This is my view
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vanathi DINESH1961
@DINESH1961, Yes stock market is based on probability. When we have clear there is no need to care about other' people's comment/view/opinion :)
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Don't short before 10800. Cup and handle trg 10800. 8800 cup high-6800cup low=2000+8800=10800 trg
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11-5-17 buy nifty today near 9390
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Still i am on shorting side though it hit stop loss. Your analysis are good. It has to come down.
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vanathi Konvict
@Konvict, Price consolidated near the resistance, lets see what happens tomorrow.
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Parjun Konvict
@Konvict, Why does it have to come down?
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Konvict Parjun
@Parjun, expecting some short covering .. its not an overall trend change. Nifty just bounced from gann line. Overall trend is positive. Nifty can run till
9555.
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