Hello traders
In this analysis we will be focusing on trades for 20 Dec 21 and also for Dec month. Since once month we are on bearish side and we will stay on bearish side. Nifty is forming two patterns
1. Downward extending channel or downward horn
2. Inverted flag with a pole length of 1400 points approx.
Immediate resistance is 17220 , above which only we will be bullish that too very light till 17550.
Targets for inverted flag comes near 15800-16000. So our setup for coming days will be either sell on rise or shorting on every swing break. Nearby good support comes around 16600-700.
For tomorrow
1. If nifty opens flat and break 16960 we will short it for a target of 16700 max positionally . If nifty starts going as per this and reaches 16900 after breaking 16960 then keep ur sl at 16970 and hold it.
2. If goes up after opening flat than wait for it to reach black resistance trend line as drawn in the chart, then take put position for 5 days, with sl of 17150.
3. If nifty opens gap down , then wait any pullback towards 17020-50 and then again short positionally.
Don't be stubborn in giving Stop loss to market. It's very very important.
Our main aim is too look for those trade which have 1:5 risk to reward. So that even if we fail 7 times, then also we will be in profits. Always plan ur trade and trade ur plan. Do that follow if u like the analysis. We have been lucky that only two sl have been hit in three month of analysis.
In this analysis we will be focusing on trades for 20 Dec 21 and also for Dec month. Since once month we are on bearish side and we will stay on bearish side. Nifty is forming two patterns
1. Downward extending channel or downward horn
2. Inverted flag with a pole length of 1400 points approx.
Immediate resistance is 17220 , above which only we will be bullish that too very light till 17550.
Targets for inverted flag comes near 15800-16000. So our setup for coming days will be either sell on rise or shorting on every swing break. Nearby good support comes around 16600-700.
For tomorrow
1. If nifty opens flat and break 16960 we will short it for a target of 16700 max positionally . If nifty starts going as per this and reaches 16900 after breaking 16960 then keep ur sl at 16970 and hold it.
2. If goes up after opening flat than wait for it to reach black resistance trend line as drawn in the chart, then take put position for 5 days, with sl of 17150.
3. If nifty opens gap down , then wait any pullback towards 17020-50 and then again short positionally.
Don't be stubborn in giving Stop loss to market. It's very very important.
Our main aim is too look for those trade which have 1:5 risk to reward. So that even if we fail 7 times, then also we will be in profits. Always plan ur trade and trade ur plan. Do that follow if u like the analysis. We have been lucky that only two sl have been hit in three month of analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.