damawat

Nifty Idea (Just for Educating myself)

NSE:NIFTY   Nifty 50 Index
Stop Loss and Target given in the chart.

Comments

Yesterday the Nifty fell nearly 400 points from the open. A 80-point up move from the stop loss implies that Nifty will fall further. You have thus given rise to more questions!!!
+1 Reply
damawat sanketsudan
@sanketsudan, Let's see sir your point also seems valid. I'm just exploring patterns that I saw.
Thanks
Reply
@damawat, Nifty has formed a big outside candle on the daily charts along with a double top. This was the first pullback to the 20 EMA in 35-36 odd bars. Chances are that at the minimum yesterdays low will be tested again. To my mind unless global market are supportive we will go down much lower. If we gap up to 15077, it may be sell from the open.
+1 Reply
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