SHORT NIFTY at CMP or above with an SL of sustaining above Channel. Target gap filling at 114xx. Buy there with SL sustaining below channel for another ATH and much more..
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There could be some volatility on Thursday due to RBI event and weekly expiry. SL is valid only if day closes above channel.
Hold with conviction and hedge your position..
Comment
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Target remains the same 114XX minimum. Tomorrow Friday could see some upmove or gapup opening, which should be shorted.
Book once near 11600 and short again at the bounce..
SL remains above Channel. USE Hrly ATR stop as TSL once that comes in to profit zone.
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Move TSL to just above 11930 top now and keep holding.
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Can move TSL now to 11799 Spot and keep holding. Part Profit booking near 11640 zone and reentry at a good bounce above 11700 can also be considered.
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Reversed from 11641. Now good bounce expected up to 11740-60 which should be used to re-enter short, SL 11799.
Trade closed manually
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TSL hit at top and then broke bottom with 5W down once again. One more low possible as per internal micro counts as long as 11840 is saved. But trading is closed now as TSL has hit and micro counts are not always reliable.