1) Wait for breakout and retest for accurate entry
2) If gap-up confidently take long
3) If resistance is strong , no trade .
4) 2 targets ate given , safe book at 1st target , trial to 2nd target if you’re an active trader .
Dt.- 27-11-2020 Price - 2925.75
Made a bearish Doji indicating there will be a correction. We are expecting that it may visit the support level that is placed at 2881.05 and if there will be more selling pressure among stocks than it can go up to the 21DEMA. Nifty Metal is in the overbought zone. This will be the key entry-level for the put option trader.
This is a simple strategy using the trendline. The price moved up steeply and has not seen a strong correction. The trendline was broken and the price tried moving upwards for a last kiss and was rejected from under the trendline.
This is an intraday idea, which can be moved to a positional play considering the negativity in the market. There is a strong chance...
Nifty Metal - The most important indicator of Global Markets.....
1. The levels of Nifty Metal is indicating towards a sharp volatility in global indices in coming days.
2. It has tried getting out of the channel twice but has not been succesful. This is the third attempt, Incase it fails this time we can see a
sharp fall downwards...
1.trading in parallel channel
2.closely following trendline support
3.mid of parallel channel will act as resistance and the trendline support confirms that if the whole channel is broken downside.
4.if it breaks upper channel then we can see testing of resistance of 350-360.
CLOSELY OBSERVE THE PATTERNS WE WILL SURELY GET GOOD MOVES AS MULTIPLE...
2 years ago in Feb 2016 , Nifty and Nifty Metal did bottom out together after that a year later, in Jan 2018 Nifty and Nifty Metal both made a top as well. Since then Nifty Metal is underperforming compared to nifty, while nifty climbing back to new highs, Nifty metal is just started advancing month ago.
Current rally in metal index is showing strength but need...