InsiderB

Nifty : Planned to stay out, But Why ??

NSE:NIFTY   Nifty 50 Index
Before someone thinks why ? how can you be without trading Nifty             ? how can you make money n sort of questions, lets see what chart conveys us.

We are in strong support zone of Nifty             but here we don't have proper risk:reward if we choose to enter long positions. So we wont b entering our trades here instead wait for 8540's zone. Its very small support zone so need to watch Nifty             keenly before taking decisions @8540's, don't miss that expiry is in another 48hrs - so ranging might be possible.
Let's wait till it comes to our marked zone before entering long.
I don't prefer to enter long now around 8580's bcos of R:R. So I will wait n see what happens @ 8540's. If Nifty             bounces back from here, no issues. That is what is known as Following Ur             Plan n Discipline.
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Thanks for your Support..Happy Trading !
Comment: Superb move na, even if we have planned to enter we might not have got our orders filled with this kinda opening... Anyways..Now look for 8650's if it breaks resistance stay back & relax... If we get double top & confirmation enter short for fewer points with strict trail of stops...
Comment: No double top...so staying out
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