NIFTY Weekly Update - Open trade

NSE:NIFTY   Nifty 50 Index
Greetings traders,
This is a weekly update following our monthly, daily & probability analysis
Please do not proceed with this analysis, if you haven't come across any of those. Refer to them at first & proceed with this analysis - link in the signature section (below)!

Now to the analysis,

following our daily update,
we mentioned that the NIFTY could turn at any level at/above 50% R in the plotted resistance zones for X2 but our double confirmation post revealed that the powerful zone to act as a resistance would be 50% R due to the added trend line's angular resistance.
Now NIFTY has been stumbling in the 61.8 Zones.

For any avid & serious trader, this would be a good spot to take their sell position, accounting the underpinning bearishness in the asset & it has a long way down based on our analysis!

For conservative traders, it is a walk through mist scenario where you can't see things clearly as if they were! yet we can say only a thing - wait for the market to unfold downwards & take your positions accordingly! (you might miss a few ticks but that is negotiable for safety)

For understanding the risk (SL) & (TP), please refer to the link in the signature section below
(it is elaborate & a bit tricky - hence we made a video presentation in it - feel free to watch it).

Fell free to reach us to share your thoughts/comments!
Happy Trading
Trade active: Sell at the levels mentioned - personal trade order filled at 6415
Comment: sorry for the wrong entry level - it is a typo - 8415 - exact 61.8% R level!


Trade active: Sell at the levels mentioned - personal trade order filled at 6415.wher u get 6415
@DebuRoy, sorry debu typo mistake - 8415 - mistakes happen even for all of us!
nd004 DineshKrishna
@DineshKrishna, Hello sir ji, Excellent Shorting opportunity seen in the morning. Now Should i keep TSL at 8415 now?
Thank you,
@nd004, maybe if you are a conservative trader, you can keep that at 8600 levels (the highest point of resistance within the series) & this ensures that your position will never get lost (there might be some sort of cross current - may/may not be today's high be tested again - but the move is favourable for a seller)

P.S: I am an avid & serious trader, I don't know for sure about the testing of 78.6 levels & also don't want to miss my opportunity @ 61.8 levels-8415 therefore, i entered!

but it would be wise if you can provide some space for SL - the margin ensures false triggering!

You should not do things based on hunches but systematically - all i can recommend is to follow a proper risk to reward & that should be derived from the analysis & not from opinions!

Based on that, the 8600 as SL would offer a great R:R - some 185:875 points, which is approximately - 1:4.7 & this is one hell of an opportunity!
think of it & proceed on your sole descretion only!
thanks !