It seems like Nifty is definitely overbought. There is also the expiry coming up. This is my plan for trading on 24th April after observing price action for sometime.
Levels can be co-related to the high probability ranges I had posted earlier.
Levels can be co-related to the high probability ranges I had posted earlier.
Komentar:
About SL: I would keep an SL of about 150-200 points above the 20th April closing price. And this SL should be on CLOSING BASIS of the Daily candle - I would not place a SL with my order. Even if it does touch 10700, I doubt it will stay at that level for very long. I trade mostly Nifty Futures and so the SL of around 150-200 points is only around Rs11000-15000 per lot which is not that much of a risk. In fact if it does touch 10700 I would short more lots probably.
Komentar:
Harmonic Pattern: Seems to be getting into a Shark pattern. The downside should be about the same as point D on the chart or perhaps even a bit lower. Bearish RSI/Price divergence continues. Futures price at a discount. But still no signs of a reversal in price!!
Trade aktif:
Shorted @10604 (futures price) SL @ 10650
