Nifty - Short - H&S Neckline broken decisively - Target - 16500
Security: Nifty (Sell on Rise)
Trade Setup - H&S neckline broken decisively. So short call / more effectively traded through a December put option or a multi leg option strategy
Trade: Short / Put buys / Sell on Rise / More effective if get to sell or take a buying Put option entry on a gap up bounce around 17100 / 17200
Stoploss: A wild bounce back in form of temporary short covering can take the market around and above the neckline to 17500.
View negated above 17500. Trade as per your risk.
Target - 16500
Please note, I am not a SEBI registered Analyst. Please trade and invest as per your knowledge and Risk profile.
Trade Setup - H&S neckline broken decisively. So short call / more effectively traded through a December put option or a multi leg option strategy
Trade: Short / Put buys / Sell on Rise / More effective if get to sell or take a buying Put option entry on a gap up bounce around 17100 / 17200
Stoploss: A wild bounce back in form of temporary short covering can take the market around and above the neckline to 17500.
View negated above 17500. Trade as per your risk.
Target - 16500
Please note, I am not a SEBI registered Analyst. Please trade and invest as per your knowledge and Risk profile.
Trade closed: target reached:
Target Reached for Nifty of 16500, based on H&S top formation.
Short Position Closed.
Short Position Closed.
