Nifty: How I am looking at closing. Did my analysis helped?
Nifty
- When Nifty was at 18060-18065 odd levels short was recommended.
Currently Nifty is down 170 odd points.
For Positional play, today's close is very important
- Watch out for 17860-17800 odd levels on the downside. If taken down, it could trigger more selling pressure. Bears might start tightening their grip
- Between 17860-17965 odd levels and the Battle of Bulls and Bears is still in balance
- above 17965 Bulls might have an upper hand
- going forward closing above 18035 on daily charts and I would consider exiting my short position
- below 17800 doors might open up for fall up to 17484 odd levels
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Follow for more trading ideas from me
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- When Nifty was at 18060-18065 odd levels short was recommended.
Currently Nifty is down 170 odd points.
For Positional play, today's close is very important
- Watch out for 17860-17800 odd levels on the downside. If taken down, it could trigger more selling pressure. Bears might start tightening their grip
- Between 17860-17965 odd levels and the Battle of Bulls and Bears is still in balance
- above 17965 Bulls might have an upper hand
- going forward closing above 18035 on daily charts and I would consider exiting my short position
- below 17800 doors might open up for fall up to 17484 odd levels
Do Like and Share
Follow for more trading ideas from me
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Comment:
As the battle of Bulls and Bears is still in balance consider partial profit booking
