Niftyadviser
Short

Nifty Flag or Falling Wedge !!!

NSE:NIFTY   Index of the 50 listed India companies
Hi Friends,

A few days ago before Oct             expiry when Nifty             was trading at 8730, I recommended selling nifty             with SL of 8800 on closing basis on a break of 8630. Within two days Nifty             made a low of 8550.

I am now revising this post to update those who are in profit to trail your position with trailing SL of 8725 on closing basis. So, now if nifty             close above 8725 we will walk break even or with a small profit. We already booked one lot at 8550 with an intention of if nifty             takes short term support we can sell that back at around 8650 which is what we did yesterday.

On a monthly medium to long term chart, all indicators are setting up in a bearish mode including MA crossover, stoch , MACD and RSI . The technicals are strongly supported by inevitable FED rate hike post-USA election.

Please also have look at my TATA Steel prediction purely based on technicals where we sold 410 rs             put option of 2 rs             in 20 rs             next day morning at the end of Oct             expiry. I didn't know that Cyrus Mistry was going to be a rebellion but chart did. So, always trusts ur             charts irrespective of news.

Happy trading and keep trailing...

Thanks for reading.
Hello Sir
Sir what is -2.06 or -1.30 or -1.15 % ???
Reply
I mean to ask what study is it ?
Reply
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