Nifty : What to expect for the Day ?!
Updated
Hi Guys,
Today we are gonna use simple support resistance for our analysis. When we use support/resistance its always two sided coin, Valid or Invalid (Sup/res) will be those two sides. Now we should consider this blue zone in Nifty (8620's) as resistance. What I expect for the day is Gap up of more than 20-30points bcos Global markets are good especially US markets.
If Gap Up happens,
i) Expect pullback and enter long in Nifty around support zone (8620's) on valid confirmation
ii) After Gapup market right away breaks downwards in 8620 ( look out for short in Nifty)
If there is normal opening in zone, look for trendline breakdown for shorting. Thats really steep trendline which tend to give false breakouts, so be safe.These are just ideas only, keep note of these and check your trade plan before taking any trade.
Happy Trading !
Today we are gonna use simple support resistance for our analysis. When we use support/resistance its always two sided coin, Valid or Invalid (Sup/res) will be those two sides. Now we should consider this blue zone in Nifty (8620's) as resistance. What I expect for the day is Gap up of more than 20-30points bcos Global markets are good especially US markets.
If Gap Up happens,
i) Expect pullback and enter long in Nifty around support zone (8620's) on valid confirmation
ii) After Gapup market right away breaks downwards in 8620 ( look out for short in Nifty)
If there is normal opening in zone, look for trendline breakdown for shorting. Thats really steep trendline which tend to give false breakouts, so be safe.These are just ideas only, keep note of these and check your trade plan before taking any trade.
Happy Trading !
Note
If you are not pattern trader please skip this bcos patterns Win rate vary for everyone.Note
Trail stops as long as it moves up, we may get pullback this week, so those who missed this will get chance, so pls wait with patience :)
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