Nifty Futures approaching crucial price
The price is ideal for a high probability setup. We now have to wait to see the price action.
Bullish Momentum if: Last swing remains safe and a strong weekly candle closes above 17200-17400 levels. 2nd "higher low" in weekly chart will be a good pattern to build positions with a small stoploss targeting frest ATH.
Crash Scenario if: Market opens on any Monday very near or below last swing. This will cause buyers' stoploss @1st "higher low" to hit dramatically, triggering sharp selling.
If market slowly comes to the support level intraday, it will mean there is no established trend. Buyers' stoploss will be hunted and volatility is likely to continue as it has been so far this year.
Bullish Momentum if: Last swing remains safe and a strong weekly candle closes above 17200-17400 levels. 2nd "higher low" in weekly chart will be a good pattern to build positions with a small stoploss targeting frest ATH.
Crash Scenario if: Market opens on any Monday very near or below last swing. This will cause buyers' stoploss @1st "higher low" to hit dramatically, triggering sharp selling.
If market slowly comes to the support level intraday, it will mean there is no established trend. Buyers' stoploss will be hunted and volatility is likely to continue as it has been so far this year.
Trade active:
A strong bullish pattern has formed in the weekly timeframe with previous level intact so Bullish scenario is now activated.
Entry @17443
max risk = 4%
Minimum Target = ATH
Entry @17443
max risk = 4%
Minimum Target = ATH
Trade active:
SL trailed to 17583. Small profit locked in.
Comment:
SL trailed to 18084. Around 1:1 reward secured.
Trade active:
1st target of fresh ATH reached with vertical momentum. Market is super bullish. Target 20K.
Comment:
SL trailed to 19218. 10% (1 : 2.5 risk : reward) secured.