So Nifty what next? its clearly visible according to propr trend its
sell on rise market. Very simple stop for this view is 8700 on closing
basis.
But avoid shorting at gap down or at lower levels, good sup visible at lower levels, which may hold for very short term, as fall may not be straight line.
Those who are still thinking positive side, atleast follow this 8700 level, if nifty not able to close above 8700 immediately tomorrow, you need to change decision.
I suggest wait for tomorrow close if nifty closes below 8630 tomorrow, its confirmed weakness, can initiate positional shorts on tuesday in small upmove.
But I strongly feel nifty will consolidate in range next week & eat premiums, so avoid options.
If Nifty not able to close above 8700 this week, we need to assume nifty is in serious trouble, and heading towards big fall in coming days.
All above mentioned levels are spot
Conclusion: Can short nifty fut at 8690 & 8714, have total stop at 8745, take profit at 8635, 8615, 8590. In case if nifty opened gap down tomorrow wait patiently for rise.
But avoid shorting at gap down or at lower levels, good sup visible at lower levels, which may hold for very short term, as fall may not be straight line.
Those who are still thinking positive side, atleast follow this 8700 level, if nifty not able to close above 8700 immediately tomorrow, you need to change decision.
I suggest wait for tomorrow close if nifty closes below 8630 tomorrow, its confirmed weakness, can initiate positional shorts on tuesday in small upmove.
But I strongly feel nifty will consolidate in range next week & eat premiums, so avoid options.
If Nifty not able to close above 8700 this week, we need to assume nifty is in serious trouble, and heading towards big fall in coming days.
All above mentioned levels are spot
Conclusion: Can short nifty fut at 8690 & 8714, have total stop at 8745, take profit at 8635, 8615, 8590. In case if nifty opened gap down tomorrow wait patiently for rise.
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