As posted yesterday sell on rise was the trade plan for the day and same worked well.
For tomorrow or day after most likely buyer's may get trap by pushing the price higher and then fall.
Let's wait for the price get close above ATH and sustain to open new longs
After a five wave impulse down nifty is rising in a corrective structure on the upside. The corrective nature of the price action suggests that near term trend for the nifty50 is down and prices are likely to fall towards 17000 in the coming weeks. On the upside the key resistance zone is 18350 while on the downside key supports levels are 17650/17350/17000
Nifty broke a good supportive trendline and a demand zone today
Below are the support levels for upcoming days
Please like and share if you like the idea to support
Comments and critiques are welcome
NIFTY got rejected from the new high and broken uptrend line. If NIfty manages to come out of the consolidation on the downside then short Nifty.
Short only on confirmation below 16495 and book profits in the demand zone. Place stop loss at 16600.
people kepp saying market can go up........market may go up but right now risk reward is better to short-----------
we asa a trader should have no interest whether nifty goes 17k or 15k...we should trade where we get good risk reward
short below spot 16150 for given target
Nfty Trade for Today & Tomorrow
Nifty has a false inside bar range break-out on Friday. A straightforward trade setup is
If it breaks Fridays low - pls note IF and only IF
There is a high chance that it will test the low of Mother bar of the range
Target and Stop loss provided on charts
last i gave the trade of 300 points after the breakdown of triangle
you can see the 5 movement of nifty which were impulsive and now it is in corrective 8th wave
and it has also formed a triangle after breakdown we can see here a good fall
As from 2003 onward, all lifetime highs have been crossed with nifty RSI being in range of 73-80 and such strength is showcased for atleast a week , in order for nifty to cross 12000 RSI needs to go above 75 while it is still 65 and looks weak, fundamentals are below average, rural consumption slowdown, Auto slowdown, Lending slowdown, NBFC stricer regulation, oil...
NIFTY is trading in a down trend. Weakness continued in nifty and prices struggling to move up. We can expect nifty to fall till price reaches the 9700 level support. Also if we observe the price action, doji candles shows still buyers are not in control to push prices up. So plan for the short trades till prices reaches the strong support.
Yep, ABCD's everywhere you go, repetitively thats why Kindergarten Admission confirmed & on lighter note some people maturity level is also upto KG levels only, trying to nag others & to pick up fight. Well, I'm supercool now, than ever :)
Expecting Bat formation on hourly, keeping in view of our 9k fill, this needs to fail, probably a small short covering can...
Usually I won't post trades with Entry,stops & targets but here posted it bcos its risky and counter trade, so everyone should know how I take on risky setups and my rewards ! Actually I want you to realize my risk rather than concentrating on my rewards and why I enter trade in the marked zone. Nifty may trigger my entry and raise straightup to stops or won't...