Today again nifty is at all-time high. But if you look it can be following this rising trendline as resistance. So it can take resistance from it and trap all those buyers who went long from all-time high breakout. So a little gap down can give us a good bearish move.
Comment down your thoughts on this.
I have posted this in my earlier post for MGL.
Hope you were on the right side today. (14-07-2021)
In starting of today it was a bull trap.
It is always to remember that never chase a long upside or long downside move in stock at the beginning of trade. 85% chances are there that it will reverse.
Though the target was small on...
The stock of National Fertilizers Limited (NFL) has exhibited a 'double bull trap' as shown in the 75min chart. The first time bulls were trapped on 12 May at morning highs in the range of 72.5-73.5. The trap was laid further the second time with another gap up crack on 20 May with 72.5 high.
Imagine the plight of the folks who bought at these zones. They will be...
Butterfly flying above 26,500 is a problem and can go till 28,180, the biggest trap is FOMO (Fear Of Missing Out) and that's where the problem starts.
The butterfly can stretch 127% to 161.8% ( 127% is done).
NIFTY WEEKLY CHART SHOWING EXHAUSTION
VIEW IS ONLY FOR TRADERS WILLING TO BEAR THE RISK
IT IS NOT A TRADE SUGGESTION FOR FUTURES TRADE
TRADE MIGHT CREATE TRADES IN OPTIONS SINCE IT WILL LIMIT THE DOWNSIDE
RSI HAD GONE BELOW 25 TODAY FOR THE FIRST TIME SINCE OCT 2008
MACD MOMENTUM BAR IS -227 WAS EVEN BELOW
THAT BUT MANANGED TO COVER...