NIFTY

Jun 25, 2023

after a strong upmove price went in consolidation phase testing support multiple times and testing resistance twice.
Weekly closing is at lowest level and weekly candle is a piercing reversal pattern.
Reversal here means a short term pause not a trend reversal.

Jun 25, 2023

Note

But you see shorting has never been easy, especially against the major trend.
You will have to keep patience or short at key levels
Key levels are - Fibbonaci number, anchored vwap or any reversal candle on higher time frame when bounce comes.

Jun 25, 2023

Note

There will be two case which will arise if price has to breakdown

1) a bounce and then fall
2) a gap down


in case of bounce -- it will be easy to hit short as sl will be near.

18712 level is going to be good level to short

Jun 25, 2023

Note

In case of gap down
if it opens near level 2 -- a bounce will be used to short for target level 1
in case opens at level 1--- It will be a good buying zone.

Jun 26, 2023

Note

anchored vwap is going to act as big hurdle
if 18750 swing and achored vwap both breaks market may close at higher level today


so far no trade got activated

Jun 26, 2023

Note

short triggered with day high sl

Jun 26, 2023

Note

No trading zone - todays low and 18720
Trend is negative but breakdown is not coming so we tend to trade Intraday
the moment we will see breakout or breakdown we will see a strong move

Jun 26, 2023

Note

Jun 27, 2023

Note

18700 again imp support and morning high resistance