NIFTY 50 - NIFTY BANK
My predetermined short will be placed at 7760-7770 in Nifty and 16890-16900 in Bank Nifty. The market has broke the last month low in Nifty yesterday and bank nifty today. Another 3 weeks is there , if the market is trending towards downside, there is lot of low level will come. Next week fed news will play major role. As of now, market is clearly in downtrend, I will look for low cost Puts , if market bounce another 100 and went near 7850-7900. Monthly charts look 7200 possible, if another round of selling happens, 7108 is possible.
The above sum up is just to be alert and if it happens I don't want to miss the trade in short side. Just to remind me, I have noted on DEC 1st, that 50% chance of touching 7500 in dec is possible, But I have missed the selling and got into long around 7840 and in bank nifty yesterday and got my stop hit.
Let see
Happy Trading Zen way...
My predetermined short will be placed at 7760-7770 in Nifty and 16890-16900 in Bank Nifty. The market has broke the last month low in Nifty yesterday and bank nifty today. Another 3 weeks is there , if the market is trending towards downside, there is lot of low level will come. Next week fed news will play major role. As of now, market is clearly in downtrend, I will look for low cost Puts , if market bounce another 100 and went near 7850-7900. Monthly charts look 7200 possible, if another round of selling happens, 7108 is possible.
The above sum up is just to be alert and if it happens I don't want to miss the trade in short side. Just to remind me, I have noted on DEC 1st, that 50% chance of touching 7500 in dec is possible, But I have missed the selling and got into long around 7840 and in bank nifty yesterday and got my stop hit.
Let see
Happy Trading Zen way...
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