#Nifty may go much lower than we imagine - Short
Good Morning, friends! 🌞📊
24 Jan 2024 Market View:
🔹 Nifty is currently trading at 23,200.
🔹 It seems likely to find support at the AVWAP of the October low.
🔹 However, if it breaks below this AVWAP level, a bearish trend may emerge.
🔹 In such a scenario, we can adopt a short position with a stop-loss above 23,473.
📉 Short Position Details:
Entry: 23,200
Stop-Loss (SL): Above 23,473
Target: 22,207
Risk-to-Reward Ratio: 2.78
📌 Summary:
This setup provides a favorable Risk-to-Reward ratio, making it an attractive opportunity for those comfortable with the market's direction. Keep a close eye on price action near the AVWAP level and trade cautiously!
📜 Disclaimer:
This analysis is for informational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Please do your own research or consult with a professional financial advisor before making any trading decisions. Past performance is not indicative of future results.
Trade safe! 💹✨
24 Jan 2024 Market View:
🔹 Nifty is currently trading at 23,200.
🔹 It seems likely to find support at the AVWAP of the October low.
🔹 However, if it breaks below this AVWAP level, a bearish trend may emerge.
🔹 In such a scenario, we can adopt a short position with a stop-loss above 23,473.
📉 Short Position Details:
Entry: 23,200
Stop-Loss (SL): Above 23,473
Target: 22,207
Risk-to-Reward Ratio: 2.78
📌 Summary:
This setup provides a favorable Risk-to-Reward ratio, making it an attractive opportunity for those comfortable with the market's direction. Keep a close eye on price action near the AVWAP level and trade cautiously!
📜 Disclaimer:
This analysis is for informational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Please do your own research or consult with a professional financial advisor before making any trading decisions. Past performance is not indicative of future results.
Trade safe! 💹✨
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