Nifty: Following the yellow channel
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Nifty
In my last couple of posts, it was suggested that Nifty could be heading lower sub 18000 towards Line of Support region.
Profit booking in short position was duly recommended when that level came. Now we see Nifty rising back again...
Going forward, Nifty has a possibility of moving towards channel top region. Any rejection near channel top region can provide better risk::reward ratio to go short in Nifty again.
Take care & safe trading...!!!
In my last couple of posts, it was suggested that Nifty could be heading lower sub 18000 towards Line of Support region.
Profit booking in short position was duly recommended when that level came. Now we see Nifty rising back again...
Going forward, Nifty has a possibility of moving towards channel top region. Any rejection near channel top region can provide better risk::reward ratio to go short in Nifty again.
Take care & safe trading...!!!
Note
In resistance zone.
One may consider to sell Nifty 18400 Call option in the range of 120-125
Take care & safe trading...!!!
Note
Trading with the 2-3-5 Rule.
where Point 3 is the best place to initiate a trade
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