NIFTY broke out of a V shape pattern today in hourly timeframeNIFTY broke out of a V shape pattern today in hourly timeframe, and sustained above neckline ( also a crucial support ) of pattern which is @ 11380
on bullish opening tommorow (07.08) long can be initiated and postinal trade can also be initiated when 11425 is broken
target levels - 11520, 11650
stoploss 11325
Futurestrading
ITC Long trade ITC cmp 274.10 spot
Initiating long positions in ITC with stoploss below 268 spot
target will depend on developing price action
a variable buying strategy will be used to create positions thus cost price will change
trade instrument will be july future
please note
positional trade deep stoploss thus risk is very high
2 trade will involve adding positions and thus might not be suitable for everyone
3 Volatility is used to identify possible price moves----volatility increase can lead price on either side -what this means is resulting price movement can be fast thus realtime monitoring of trade is needed
4 derivative trading is a high risk activity-----losses can be significant