Nifty has arrived the resistance level of the descending channel. If tomorrow price gaps down and moves downward in first 15 min, a short position can be opened with SL above the swing high and a target of 11650.
If price gaps up and sustains over today's high, this trade plan will no more be valid.
Price action - Bounce on 15 EMA and if tomorrows candle is also green and above the 15 EMA then enter for short term target of 628
Ichimoku positive and future kumo is green.
Note : This is for educational purpose only.
Entry point should be the low of previous swing low which is 126.7.
If it goes below 126.7 then short it with stop loss of nearest high of a swing high: 130.6.
If it bounces up from 126.7 then take a long position with stop loss of nearest low of a swing low: 123.15.
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