nifty : nifty going strong but listen to charts as well
hi everyone
as we are witnessing nifty going high and making all time highs, but it needs to breathe too,
according to the chart, I strongly feel that nifty might take a break from its run and should retrace to its last all time high of 12500
but the view will change 100% and we will have to review the charts again if it closes above 13575 on 11 Dec 2020
so here how the trading plan should be,
sell at spot with stop loss above 13575
target 1 : 12975
target 2 : 12575
trade invalidates if weekly closing above 13575.
closing above 13575 would create doors for new price discovery which should be 14800 levels
Advise : do not trade based on my recommendation, study your own charts too and make a wise decision. I wont be responsible for your trades.
as we are witnessing nifty going high and making all time highs, but it needs to breathe too,
according to the chart, I strongly feel that nifty might take a break from its run and should retrace to its last all time high of 12500
but the view will change 100% and we will have to review the charts again if it closes above 13575 on 11 Dec 2020
so here how the trading plan should be,
sell at spot with stop loss above 13575
target 1 : 12975
target 2 : 12575
trade invalidates if weekly closing above 13575.
closing above 13575 would create doors for new price discovery which should be 14800 levels
Advise : do not trade based on my recommendation, study your own charts too and make a wise decision. I wont be responsible for your trades.
Trade active:
sweet lord
as said, price touched 13575 and returned back to correction
175 points profit so far, wait for more
i am moving my stop loss to positive range of 13550
as said, price touched 13575 and returned back to correction
175 points profit so far, wait for more
i am moving my stop loss to positive range of 13550