NIFTY50 (1W TF) UPDATE - 15th April, 2024
Pattern: ASCENDING CHANNEL
- Reversal at the top of the Weekly Channel Resistance - Done ✓
- Might expect more of a fall in the Indian markets, mainly due to the US markets sell-off on Friday
- Geo-political tensions due to the Israel-Iran conflict might also have some repercussions
- Volatility is going to be high
- Support Levels have been marked out
Going forward with any Swing Trades:
- DO NOT jump into falling knives
- Watch higher time frames for more accurate entries
- Anyone going short on any stock, please hedge your positions
- There is and will be a lot of volatility over the next 45-60 days.
Until then, we need to be doing the following:
✓ Keep SL's in play for existing positions or trail your SL
✓ Ensure your position sizing is as per your rules
✓ Keep risk management in play at all times
And most importantly, if the market is giving you decent returns in any trade:
✓ Then book your profits and
✓ Hold your capital
Always remember:
- We can live to Fight another day; but ONLY if we are in a POSITION to do so
So Capital Preservation is Key !!
.
.
.
Become Emotionless
&
Trade Ryte
#nifty50
Pattern: ASCENDING CHANNEL
- Reversal at the top of the Weekly Channel Resistance - Done ✓
- Might expect more of a fall in the Indian markets, mainly due to the US markets sell-off on Friday
- Geo-political tensions due to the Israel-Iran conflict might also have some repercussions
- Volatility is going to be high
- Support Levels have been marked out
Going forward with any Swing Trades:
- DO NOT jump into falling knives
- Watch higher time frames for more accurate entries
- Anyone going short on any stock, please hedge your positions
- There is and will be a lot of volatility over the next 45-60 days.
Until then, we need to be doing the following:
✓ Keep SL's in play for existing positions or trail your SL
✓ Ensure your position sizing is as per your rules
✓ Keep risk management in play at all times
And most importantly, if the market is giving you decent returns in any trade:
✓ Then book your profits and
✓ Hold your capital
Always remember:
- We can live to Fight another day; but ONLY if we are in a POSITION to do so
So Capital Preservation is Key !!
.
.
.
Become Emotionless
&
Trade Ryte
#nifty50