Finally on 26th October, Nifty broke downside from the tight range of 11820 and closed below it confirming the bearish move. Below are trade plans for 27th October.
1. Any move towards 11800 and sustaining below 11800 is a good shorting opportunity for target of 11740 with SL of 11820.
2. Sustaining below 11740 will give bearish signal for target of 11670 with SL of 11760.
3. Longs can be initiated only above 11890 with SL of 11820 for target of 11990.
4. If 11670 breaks and sustains, next target will be 11605.
Market is volatile. Trade as per your plan
1. Any move towards 11800 and sustaining below 11800 is a good shorting opportunity for target of 11740 with SL of 11820.
2. Sustaining below 11740 will give bearish signal for target of 11670 with SL of 11760.
3. Longs can be initiated only above 11890 with SL of 11820 for target of 11990.
4. If 11670 breaks and sustains, next target will be 11605.
Market is volatile. Trade as per your plan
Trade active:
opened just short of 11800 and now at 11735. Thats why levels are very important. At least one should have avoided being long if trade plan is there