Nifty | Big Bull on the Run | Contingency scenario

Jan 13, 2021

Nifty has been at the all time highs and people buying pretty much everyday or the other. We need to have a bit of reality check here. It's totally fine to hold your Long positions unless and until some real negativity pops up (eg, Newton's First Law ~ An object in motion will continue to be in motion unless and until some external force acts upon it :D )

But what to do if a sudden breakdown comes ? where to create positions ?

Here's an answer to that.

1. If Nifty continues to move along the critical support line, let's continue being bullish
2. If Nifty breaks the critical support line,

a. Support 1 is at 14200
b. Support 2 is at 13850
c. Support 3 is at 13000 level

There might be some consolidation phase between Support 1 & Support 2 as well.

Why do I think a breakdown might happen ?
a. Experience :)
b. All financial metrics are hitting all time high
c. Most of the good news & certainty news are almost over
d. Institutional buying is thinning out
c. Definitely we are due for a correction for quite sometime

But we need to remember this is our contingency plan and we continue to be long across all positions unless our TL breaks

Jan 13, 2021

Note

Markets seems to be very close to the TL

Jan 15, 2021

Note

Idea on a roll. in 2 days

Jan 18, 2021

Note

Let's kick off start profit booking --- Swing folks

Jan 27, 2021

Note

Will book 50% now around 14150. I hope you all listened & minting

Jan 29, 2021

Note

75% booked at 13750 level

Jan 29, 2021

Note

Today re-entered shorts at 13800 level closed all positions at 13675-12695 in order to avoid overnight volatility of budget day

More than 1000 points in NIFTY!!!! Great Trade closed

Jan 29, 2021

Trade closed: target reached