Nifty formed bearish engulf in the day chart. The previous day low is very much important for bulls to defend the uptrend. Yesterday's low is 10616. As on now it looks a gap down open.
It should trade above 10616 to generate signal to trade long side, with stop around 10600.
Till that time, we have to wait, Nifty is trading around 20 days moving average, this is always inflection point. to mark up or down, there will be lot of confusion taken place around this level. So we have to wait patiently, Let others play hard and create the direction for us.
Bank Nifty also in the same side of Nifty. 20 days moving average around 26000.
As Jackpot option finder, I always like a big bear candle before expiry in Nifty and Bank Nifty. Let see today we can find any Jackpot setup.
10600 CE around 5 and 26200 - Bank Nifty CE at 16 - look to buy as of now.
Let see..
ZT
It should trade above 10616 to generate signal to trade long side, with stop around 10600.
Till that time, we have to wait, Nifty is trading around 20 days moving average, this is always inflection point. to mark up or down, there will be lot of confusion taken place around this level. So we have to wait patiently, Let others play hard and create the direction for us.
Bank Nifty also in the same side of Nifty. 20 days moving average around 26000.
As Jackpot option finder, I always like a big bear candle before expiry in Nifty and Bank Nifty. Let see today we can find any Jackpot setup.
10600 CE around 5 and 26200 - Bank Nifty CE at 16 - look to buy as of now.
Let see..
ZT
No comments:
Post a Comment