We had strong selling in Nifty 50 futures yesterday, i am considering 3 scenarios and will act according to them - 1. Current momentum continues - Break of 17400, enter long only above break candle high that is break down failure.
2. Momentum slows down - some pullback to up then another down move leading to 17400/17500 - add to your investments, up move leading to test of 18600 eventually. Most likely to happen.
3. It closes above 18200 today itself - buy buy buy.. add to your investments. Least likely but immediate very strong trade.
Comment
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Second scenario is happening, momentum slowed down but any up move will be sold and we will have test of 17400 zone.
Wait for 17400/17500 to add to investments/buy.
Those who trade Intraday - 1. Fridays closing was weak, down momentum is likely to continue. 2. Short on - a. 17800 break fail. b. Below 17680 is it sustains.
Those who trade Intraday - 1. Fridays closing was weak, down momentum is likely to continue. 2. Short on - a. 17800 break fail. b. Below 17680 is it sustains.
NaveenGr
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For those trading Intraday - 1. Immediate trend is down - a. Short @17900 if crosses from above. b. Short on break fail of 17940/17950. c. Short on weak Pullback to 17850.
1. Fridays closing was weak, down momentum is likely to continue.
2. Short on -
a. 17800 break fail.
b. Below 17680 is it sustains.