Wanted to share the view on nifty before few global events which will take place in coming weeks.
Intention of this analysis is how you can keep your self ready for volatility which will come in.
Approach 1 - Don't look at news and just follow the charts and you will be home.
Approach 2 - Be aware of important dates in financial and political arena, Take your trade according to the charts only and use hedging to safeguard your trades with out of the money options.
Approach 3 - If you don't know the direction then don't trade.
I personally like the second approach as in this approach i am following the charts, and related trading plans along with which i am taking note of financial events in future. When ever you will calculate the risk to reward do calculate the hedge value too.
What ever trade you want to take in next 2 weeks make sure you book profits at green and yellow lines marked on the chart if not profit then at least keep trailing stops and given levels. All are gann cycle levels which i use for daily trading.
Will continue to share trading views weekly on nifty. Will share the green and yellow lines levels in comments.
