NIfty Overview for Dec 05, 2022 - Play is on Short side - 18525
Dear Friends,
As discussed in the noon video that market is more likely to touch 18700 odd levels once it has made a low of 18639. Market came to that level and got rejected and made a low of 18675 then again it bounced to 18700+ levels. OI suggests that selling will continue and we would witness 18525 on Monday closing below this levels means we will have target of 18325 by Tuesday. 18384 is a Fib Retracement levels at 23.6%. Till we are closing below 18800 we should continue to trade on downside on Intraday basis. till the time we are not closing above previous day high, continue to play on short side. Trend would resume only above 18800 or below 18325.
Please save your hard earn money.
Always trade with Hedge.
Have a happy weekend...
Regards,
Ritul Parikh
As discussed in the noon video that market is more likely to touch 18700 odd levels once it has made a low of 18639. Market came to that level and got rejected and made a low of 18675 then again it bounced to 18700+ levels. OI suggests that selling will continue and we would witness 18525 on Monday closing below this levels means we will have target of 18325 by Tuesday. 18384 is a Fib Retracement levels at 23.6%. Till we are closing below 18800 we should continue to trade on downside on Intraday basis. till the time we are not closing above previous day high, continue to play on short side. Trend would resume only above 18800 or below 18325.
Please save your hard earn money.
Always trade with Hedge.
Have a happy weekend...
Regards,
Ritul Parikh