Updated

Mighty Nifty - Aug 17

Price was moving with volatility and it was choppy for the past few days which resulted in channel formation. Now it has broken the channel. Will it sustain? Read below.
Pattern : Channel
Range : Medium
Trend strength : Normal
Buy Above : 19460
Stop Loss : 19420
Targets : 19500, 19520, 19560.
Sell below : 19380
Stop Loss : 19410
Targets : 19350,19320 and 19280.

Check the live market updates. Expected Expiry Day range is 19300 to 19550.

Hit the like button to Rock !! Show some energy !!

Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.

Note

At trend deciding level. Bearish.

Note

This is what has happened,

Trade active

Short.

Note

T1 done. Nearing T2.

Trade closed: target reached

Note

Aug 18 : Marked zone will decide the trend direction.

vanathi

Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie
Option course on March 15.
Mail id : tradingplan4u@gmail.com

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vanathi

Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie
Option course on March 15.
Mail id : tradingplan4u@gmail.com

Also on: