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DECODING NIFTY50's NEXT MOVES - A PROFIT BOOKING COMING SOON ?Nifty50 is continuously hitting fresh record highs at a faster pace tirelessly. There is definitely strong momentum by bulls towards upside but at the same time we can't deny the fact the there's a thing called 'Valuations' which are hinting that markets are modestly overvalued. The run after breakout of 23500 has been tremendous & we have seen Nifty gained more than 1000 points back to back but as per my experience and my view, A profit booking & retracement is pending the the market. So, with that view, I am creating short positions in Nifty far month futures (as premiums are much more there) at CMP 24620. I will add more position between 24800 - 24900 & will hold this position with SL above 25K. I am expecting markets to witness a strong profit booking in coming sessions as markets are extremely overbought already & budget is scheduled in next week. Any negative news in or related to union budget will trigger strong profit booking in market. I have also mentioned targets for my short position in the chart above & tried to decode Nifty's trend for months to come. Let's see what time will show us.
NSE:NIFTYShort
by akshit_official
6
NIFTY50 - SELL AND RUN AWAY ?Symbol - NIFTY50 CMP - 22960 NIFTY50 is following a rising channel & headed strongly towards its higher end. Currently It is trading near round level of 23000. According to my analysis & my view, Nifty50 will face strong resistance around round level 23000 - 23100 which is also upper end of the rising channel. I'm expecting Nifty to show a reversal from these levels & It may witness a strong profit booking. General Elections result is due on 4th June & because of this, INDIAVIX has shot up from 11-12 levels to 22 level. This is also hinting a reversal. If any negative news flow comes in coming week or on elections result day, We may see huge fall in Nifty50. Hence I am creating huge short positions in Nifty50 June Futures at CMP 22960. I will add more position between 23150 - 23250, if comes. My SL would be 23400 & Targets I'm looking for are lower end of this channel which is around 22050 - 22120 & If it breaks this channel pattern on downside, We will see huge fall till 21000 easily (which is my second target) & beyond. Risk is small here & Reward is huge. That's why taking more position than usual. Not taking any position in options as May series options are expiring in 4 days & premiums of June series options are very very inflated. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:NIFTYShort
by akshit_official
8
LLOYDSME [CUP & HANDLE]watch on No more say to every one my chart are talking with you what happen of some days . That patterns may be significant chance to grow up and reach to targets . for MORE check in my TradingView ID in.tradingview.com If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered ." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
BSE:LLOYDSMELong
by asAMOLSUTAR