Positional: Nifty moving down by providing a BPB on last Flip. Although Trend is still down, but -
1) there is Layer on Layer Below the recent Zone. Too many DP confluence.
2) A Bounce is expected ! which may go to 8385 - 8465.
3) If the Bounce breaks the recent Flip & sustains above, one can take Risky Longs for short term for above targets. But keep in mind, Mkt is still SELL on Rise.
4) A Fast downmove breaking below all the layers will call for a Major Fall.
As of now, Don't Short ! It doesn't mean to go Long! wait for the price to come out of the woods..
I am still in my Shorts with SL above Flip Candle. (I will prefer to Go Long here- Risky, but trading is always risky :)
1) there is Layer on Layer Below the recent Zone. Too many DP confluence.
2) A Bounce is expected ! which may go to 8385 - 8465.
3) If the Bounce breaks the recent Flip & sustains above, one can take Risky Longs for short term for above targets. But keep in mind, Mkt is still SELL on Rise.
4) A Fast downmove breaking below all the layers will call for a Major Fall.
As of now, Don't Short ! It doesn't mean to go Long! wait for the price to come out of the woods..
I am still in my Shorts with SL above Flip Candle. (I will prefer to Go Long here- Risky, but trading is always risky :)
can you teach me how to analyse the nifty. i am new to trading and feeling at loss.
ReplyDeleteHi Anurag,
DeleteI am a Trader & not a Trainer. Still, if you feel OK to learn from me, you can mail me at deven17@gmail.com & i will try to help you out..
Thanks,
Deven Malhotra
can you teach me how to analyse the markets the same way. i am new an feel completely at loss
ReplyDelete