Nifty has been trading in a very small range on the daily chart and basically forming a contraction zone. This being an important support level, hopefully will not be breached.
However, the 2H chart suggests some down move as depicted and it provides a good risk reward ratio for the bears.
Will be looking for the short trade entry 2morow.
However, the 2H chart suggests some down move as depicted and it provides a good risk reward ratio for the bears.
Will be looking for the short trade entry 2morow.
Trade closed: target reached:
As expected the target has been achieved.