paulselvan
Short

Nifty 15 mn Bear Butterfly

NSE:NIFTY   Nifty 50 Index
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3
125 7
This Butterfly gives opportunity to short with very little risk.
Short@9260-9255
SL >9273
TP1 ~9183
TP2 ~9090
Can we enter short position now??
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ur analysis excellent
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paulselvan VimalVashisth
@VimalVashisth,
Thanx man..

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Better, if you can adjust sl above 9273. High possibility to hit stop at your value.
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paulselvan asnv.santosh
@asnv.santosh,
i say the same thing : The notation SL > 9273 means set SL above 9273 not SL should be equal 9273
You must take in account also the spread.


You mean high of april 5th is exactly 9273.90,don't you?


In my opinion if Nifty goes above this high, bulls can regain control.
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asnv.santosh paulselvan
@paulselvan, Now what about Stop? Where to adjust?
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paulselvan asnv.santosh
@asnv.santosh,

For the butterfly stop loss was just a little above 9273.90.
----------------------------

What's the situation now ?

Nifty has entered the potential end zone of wave-iii.

RSi 21 is losing bull momentum.The resistance on the bear divergence must not be break.

There is also a bear divergence in macd.

9413.71 may be next point to short.

For safe trading , SL must be set not exceeding 2 or 3% of your capital.


Note:this is not an investment advance just my opinion...


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