IN50USD High-risk Initial Long. SL and TPs on the chart. 10-20x leverage. Move SL on TP.
Nifty T1 - 17608 T2 - 17792 T3 - 18007 Pivot - 17374 S1 - 17175 S2 - 16973 S3 - 16751
As IND50USD break the 16700 level, which is acts as a major supply zone. In upcoming days we may see 16860/ 16910/16940
The Indian Market has seen some an insane frenzy of bullishness in recent weeks. Favourable PMI numbers and overjoy about expanding economies have led the gamblers to go north like nobody's business in the last few days. Errh.. they forgot about supply chain bottlenecks. 🙄 The interesting thing about this position is what it 'makes'' you think - or is that...
Do take note that I believe the market has been ranging for the IN50. But as my indicators show it is a long opportunity. Based on this information, managing the trade is a priority as it would be for any other trade. If you look back, in July I took a small loss. I should be in this trade a couple of minutes before market close, as time differences will close...
This looks like a channel, so I say it is a channel. The interesting thing about channels is that you will almost never get all price points on the lines. Price can break up and out then return in, or break down and out and come back in, or break totally out and stay out. But it's an opportunity for those who plan carefully. Stay safe. Don't get the Indian...
If you thought the DJI was overvalued, have a look at the India50. This thing has outperformed loads of other stock indices, even rivalling the Brazilian Bovespa. They've certainly passed the moon. Could the next stop be Mars? Well I think a significant correction is well overdue. Of course, I don't know when that might happen. The show could start with a 5 to 15...
This is the INDIA50. Lots of people are not interested in this but interest is growing. I show how I assess probability for the south for a short entry. Disclaimer : As usual this is not a recommendation to trade securities or derivatives. If you lose your money kindly sue yourself.