Nifty has formed bearish engulf in Weekly chart pattern. so Market has to trade above 10600 level, till that time, market will grind lower.
Shorting at this point will not make a good trade setup.
Bank nifty also looks weak, but it does not mean, we can make short on every rise.
This point of time, better to wait on the side lines , till things get settle.
Once market start moving up, then look for the levels around 10600 and 26000, how it plays around that level.
I am bullish if market moves 10600, I will try to buy the pull backs with stop at the low it made before moving to 10600.
Only after moving to 10600 , Plan your trade.
ZT
Shorting at this point will not make a good trade setup.
Bank nifty also looks weak, but it does not mean, we can make short on every rise.
This point of time, better to wait on the side lines , till things get settle.
Once market start moving up, then look for the levels around 10600 and 26000, how it plays around that level.
I am bullish if market moves 10600, I will try to buy the pull backs with stop at the low it made before moving to 10600.
Only after moving to 10600 , Plan your trade.
ZT
Thank you for sharing your tips! This is very helpful and informative! I’m looking forward to seeing more updates from you.
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