Nifty consolidation
Updated
After good trending moves in the last few weeks, nifty seems to be under consolidation mode. Oi data suggest the same. Indicators confused as to buy or to sell. No trades coming on my screen for very long. Patience required.
Possibilities for the week.
Trade1: Buy at 16600 with 50point stop tgt 16750-800 trail at 20pts at 16700 if reversed again.
Trade2: After a 100point break at 16800 on consolidation or reversal look for a short at around that round number +-20points for a target 16600 keep trailing after 80pts.
Possibilities for the week.
Trade1: Buy at 16600 with 50point stop tgt 16750-800 trail at 20pts at 16700 if reversed again.
Trade2: After a 100point break at 16800 on consolidation or reversal look for a short at around that round number +-20points for a target 16600 keep trailing after 80pts.
Note
Above 16800 possibilities open up to 16950.Below 16550 possibilities open up to worst case 16400.
Last few days price saying buy the dip or sell the rise, pigs in between get porked. When plans doesnt work levels dont come dont trade.
Note
Options idea for the week: sell 16950/16400 strangle. Stops 16800 break upside or 16500break downside.Trade active
Trade triggered at 16600 and didnt stop upped trails to costNote
Option buyers may try 16600ce with stops of 20points after 16700 break possibly tomorrow for 80points.
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