Ideal SL is 11650 for this long trade, but it's still too far away. Not good RR yet.
A more logical SL could be break and sustain of the next Trend line.
Suggest long entry on sign of reversal as it is still bearish, or above 11880 for safe traders.
Target new ATH+++
Short the hell out of NIFTY if Bank NIFTY breaks down on Monday.
Between 11200-11350 is no trade zone. Short sustaining below 11200 for a minimum target of 10940. SL sustaining above 11350.
Or else short as close to 11350 as possible if it's going up for a low RR trade.
Sustaining above 11350, low done and reverse for 12K+
NIFTY has completed or will complete W4 bottom tomorrow.
Sell NIFTY at 11900+ when top is formed for minimum 11320, though the ultimate target can be much bigger. But, that's something for the future
For now, buy NIFTY with an SL of close below 11510 for a target of 11900+. Buy as close to SL as possible.
Close below 11510 might confirm that the top is already...
Go short IF day RSI CLOSES or will close below TL and price also CLOSES or will close below the low. Initial SL is RSI above 70. TSL every intermediate tops RSI will make if the trade is successful. Target RSI 30 and beyond, work with TSL, reverse when TSL hits.
NIFTY has broken down the RSI Trend-line and has given a pullback to retest the TL. But during that process, it has also created a hidden bullish divergence. So, RSI outlook is neutral. but short if the following criteria meet.
1. RSI doesn't CLOSE above 70 again.
2. An hourly candle CLOSES below the Horizontal line
3. Corresponding RSI also CLOSES below it's...