Nifty 15 mn Bear Butterfly Short

NSE:NIFTY15

Nifty 50 IndexNSE

Description

⋅ Apr 24, 2017 9:19 AM

This Butterfly gives opportunity to short with very little risk.
Short@9260-9255
SL >9273
TP1 ~9183
TP2 ~9090

Comments

PrateekGarg

⋅ Apr 25, 2017 5:13 AM

Can we enter short position now??

VimalVashisth

⋅ Apr 24, 2017 6:51 PM

ur analysis excellent

paulselvan

⋅ Apr 24, 2017 7:41 PM

@VimalVashisth,
Thanx man..

asnv.santosh

⋅ Apr 24, 2017 9:22 AM

Better, if you can adjust sl above 9273. High possibility to hit stop at your value.

paulselvan

⋅ Apr 24, 2017 4:51 PM

@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.

asnv.santosh

⋅ Apr 26, 2017 10:32 AM

@paulselvan, Now what about Stop? Where to adjust?

paulselvan

⋅ Apr 26, 2017 8:57 PM

@Asnv.santosh,

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