nifty : nifty going strong but listen to charts as well Short

Nifty 50 IndexNSE

Description

⋅ Dec 10, 2020 8:59 PM

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.

Trade active

⋅ Dec 11, 2020 8:48 AM

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

Comments

satbaps

⋅ Dec 11, 2020 4:38 PM

Awesome 👍

officialanuraggupta

⋅ Dec 10, 2020 9:23 PM

Yes, a strong correction is due awaited but I feel nifty will consolidate a bit in a tight range and then correct further.

PriyalGupta

⋅ Dec 11, 2020 9:49 AM

@officialanuraggupta, market has moreover changed to kangaroo mode, that is why we see a lot of W patterns these days, buyers are jumping in at every dip, so shorting the market is most risky these days.