Market Update:
Nifty closed around 10685 levels up 55 points. It did give some nervous moments to traders initially but finally took support at 10600 and moved up sharply towards 10690 levels. Nifty is more or less moving in line with our expectations and probably has completed the last leg of down move ( E leg) yesterday. If nifty crosses 10765 levels before expiry then we can safely conclude that downmove for the time being is over and Nifty is probably ready to test higher levels. Offcourse everything can change if Nifty start trading downwards. That's how markets are and as a trader we should always be prepared for all possibilities.
Trading recommendation: We entered long yesterday around 10595 levels and further longs were added today at 10650 levels. Both the trades were updated here in real time. I am still not giving any upside targets but its recommended to hold it with a SL of 10595 ( exit if one candle close below 10595 on 15min charts). I will keep updating when to exit or book profit. Trade Well, Trade Wisely.
Nifty closed around 10685 levels up 55 points. It did give some nervous moments to traders initially but finally took support at 10600 and moved up sharply towards 10690 levels. Nifty is more or less moving in line with our expectations and probably has completed the last leg of down move ( E leg) yesterday. If nifty crosses 10765 levels before expiry then we can safely conclude that downmove for the time being is over and Nifty is probably ready to test higher levels. Offcourse everything can change if Nifty start trading downwards. That's how markets are and as a trader we should always be prepared for all possibilities.
Trading recommendation: We entered long yesterday around 10595 levels and further longs were added today at 10650 levels. Both the trades were updated here in real time. I am still not giving any upside targets but its recommended to hold it with a SL of 10595 ( exit if one candle close below 10595 on 15min charts). I will keep updating when to exit or book profit. Trade Well, Trade Wisely.
Made good profit from this trade, still honding one lot
ReplyDeleteThanks, trade is still open but its upto you if you want to exit and book some profitm
DeleteA good summary n helpful tips.. Holding one lot NS
ReplyDeleteThanks- you may continue to hold
DeleteIt closed up handsomely. Made a good profit and still holding one.
ReplyDeleteNow it is within striking distance of 10775 which was the point it dropped some 250 points. it should reclaim that tomorrow or expiry day. Tomorrow morning opening might be gap up above 10700.
thanks. you may continue to hold long positions till further update. enjoy your profits
ReplyDelete