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 closed: target reached
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Target Reached for Nifty of 16500, based on H&S top formation. Short Position Closed.