NSE_EOD:NIFTY which is traded in NSE,Mumbai & scrip name as Nifty Futures January is likely to continue its downward move and possibly reach around 7250's.
We know that Gaps act as Resistance/Support and check your trade plans to place stops around that region NSE_EOD:NIFTY from 7650's to 7750's.
Possible Targets around 7200's to 7250's and its more likely to move there if Bearish Trend Continues.If that suits your risk profile and plan take Nifty 50 [Nifty Futures} short positions to ride the downtrend.
Reasons : We are below our Support turned Resistance, perfect Doji formed and the next candle close is also below our marked resistance level,so potential downtrend move continues.
Thanks for posting chart with risk/reward, Any Update for expiry.
InsiderB
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Thanks for the Support Ambrish !
Still am expecting Nifty expiry in 7250 - 7500's, but if Daily close happens above 7550's then expiry will be above that.
Let's see what market offers Us :)
AMBRISH
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Thanks Bill,
I liked your efforts you have been taking on updating.
pai56kota
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Sir, today Nifty made a low of 7241.50 and closed at 7309.30. Hope, Nifty will take a "U" turn from here. Otherwise, it may fall upto 6600. What is your view?
InsiderB
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You're Right ! Probably Expiry 7100-7500...Let's watch...Bcos Market is always Right..
pai56kota
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Thanks for the information. In that case, nifty may move down around 7120 in it's channel movement till expiry.
InsiderB
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You're Welcome :)
atri
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please send daily news letter about nifty,n.sridharan50@gmail.com
InsiderB
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That will be difficult atri..Because in Trading view we can publish only ideas on Daily timeframe and weekly trading Ideas posting is possible. I hope you understand
Cheers...Happy Trading :)
InsiderB
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Tradingview doesn't offer intraday time frame for Nifty & Stocks...if its available in future...I can post for Nifty Daily
Well, anyways I can do that in My Twitter account [Daily opportunities] whenever I get into a trade !