Nifty Short - Intraday Short

NSE:NIFTY1!15

S&P CNX NIFTY INDEX FUTURESNSE

Description

⋅ Mar 9, 2021 8:59 AM

Quick Short at CMP around 15040-045
SL 20 Points
TGT 70 Point++

Trade active

⋅ Mar 9, 2021 9:02 AM

15045 Entered 1 lot short
SL 15069 (24 points)

Comment

⋅ Mar 9, 2021 9:15 AM

close above 070 will give a good upmove, that's also failure of a bearish bat pattern.

045-065 is a key level wheich also coincides with the completion of a bearish bat pattern - hence the trade was taken. I will share the harmonic pattern chart in the another post.
Since this was a quick trade

Trade closed: stop reached

⋅ Mar 9, 2021 9:20 AM

Exited at 15070 (awaited for the close)

Comment

⋅ Mar 9, 2021 9:21 AM

Reverse trade taken, on the long side, as mentioned close above 070 means a very good upmove and also can go to higher levels of 15100-15120

Comment

⋅ Mar 9, 2021 9:37 AM

SL for reverse trade updated to 15090, and TGT 15025

Trade closed: target reached

⋅ Mar 9, 2021 9:42 AM

Reverse trade tgt hit. Entry was 15070, Exit Price 15025 (55 Points profit)

Initial trade was shorting from 15045 and SL exit price was 15070 (25 point loss)
Net profit was 25 points. :).

Comments

Pangram-Technologies

⋅ Mar 9, 2021 11:55 AM

Beautiful Analysis...SL Target Achieved..