Nifty Analysis - Stance Bearish ⬇️
Recap from yesterday “We would like to give one more opportunity for Nifty to hold its ground. We would start the day tomorrow with a neutral bias and wait for Nifty to fall below 21913 to go bearish.”
4mts chart
Not only did Nifty50 open 360pts gap-down, but it broke the 21913 support. This was the laxman rekha for us below...
DLF's uptrend movement looks like fading away. In today's trading stock closed below 14 days EMA forming bearish inside candle pattern. MACD is also giving a bearish signal.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit or loss.
Observed that the price action breaks out from the consolidation zone of 145-135 levels and closed below it, indicating further weakness ahead. The price action may further dip down to the 130, 125 levels to also fill up the big gap on the chart too.
T1- 130
T2-125
SL-139
this is a set up only for experienced traders, All indications point for a Medium term bullish trend in Ashok Leyland, but i always play with 2 way strategy on any stock i trade. My first set up is bearish set up at CMP stop Loss 130, Buy back price - 116, At 116 i will buy back double and have a stop loss for 115, and then exit partial trade at 130, and then...
