Nifty View more confirmation for 14 K levels
Updated
NIfty Inverted cup and handle pattern
Friends, all these indications on the higher time frame tell us that the market is going to fall, big time. Yes, tomorrow that is 13 June we will open Gap down at 16,000 levels a gap down of 200 points or more I am expecting. Now, both bank nifty and nifty are at psychological support levels of 34,000 and 16,000 levels respectively.
So, I expect a bullish retracement to 16,100 levels or more. But, friends don’t get trapped in this bullish pull back on market opening. As, now the market is in the grip of the bears and the same is evident on the charts.
So, my trade plan, In These market conditions will be, to write Out of the Money Call Options with a hedge and maintain a bearish view for 15,700 levels.
Friends, If we break 15,700 levels on the daily time frame, we will hit 15,100 levels by June Monthly Expiry with minor bullish retracements which will get sold off eventually. So, trade accordingly.
Friends, all these indications on the higher time frame tell us that the market is going to fall, big time. Yes, tomorrow that is 13 June we will open Gap down at 16,000 levels a gap down of 200 points or more I am expecting. Now, both bank nifty and nifty are at psychological support levels of 34,000 and 16,000 levels respectively.
So, I expect a bullish retracement to 16,100 levels or more. But, friends don’t get trapped in this bullish pull back on market opening. As, now the market is in the grip of the bears and the same is evident on the charts.
So, my trade plan, In These market conditions will be, to write Out of the Money Call Options with a hedge and maintain a bearish view for 15,700 levels.
Friends, If we break 15,700 levels on the daily time frame, we will hit 15,100 levels by June Monthly Expiry with minor bullish retracements which will get sold off eventually. So, trade accordingly.
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