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Why I went short on NIFTY today.

Short
Nifty 50 Index (NSE:NIFTY)  
Observe_Think_Act_Think  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Chart Patterns
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trendanalysis chartpattern
Considering the confluence of multiple signals, I bought NIFTY 13600 PUT. I'll hold it till NIFTY touches 21 EMA.
  • NIFTY is closer completing 6th straight week of gains.
  • 3 months without significant correction.
  • New year and new series starting from tomorrow.
  • Result season kicking off. And it may set expectations about future growth.

Stop Loss : NIFTY not showing any signs of breaking down in next 3 weeks.
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