Nifty: Listening to chart can reward you handsomely...
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Nifty
Cmp 9419
Read this to understand the power of Technical Analysis
- There I had shown 4 charts Dax , Taiwan, Dow Jones, Hangseng to give me the confidence that Nifty has a high probability of testing 20 day EMA.
- 20 day EMA is currently around 9250 odd levels.
- So the message was loud & clear. a potential of 500-600 point drop in Nifty
- do notice the analysis was not on the week end after seeing SGX NIFTY deep in the red but at a time when things were going good.
- Charts do tell us a lot and it's up to you whether you want to listen to them or trade on News when most of the cream has already been taken
- going forward for us the play on short side is done for time being.
- we are looking at opportunities to sell 07 May expiry Nifty 9000 Put option as our trading strategy with 20 day EMA being our guiding factor.
Happy & safe trading...!!!
Cmp 9419
Read this to understand the power of Technical Analysis
- There I had shown 4 charts Dax , Taiwan, Dow Jones, Hangseng to give me the confidence that Nifty has a high probability of testing 20 day EMA.
- 20 day EMA is currently around 9250 odd levels.
- So the message was loud & clear. a potential of 500-600 point drop in Nifty
- do notice the analysis was not on the week end after seeing SGX NIFTY deep in the red but at a time when things were going good.
- Charts do tell us a lot and it's up to you whether you want to listen to them or trade on News when most of the cream has already been taken
- going forward for us the play on short side is done for time being.
- we are looking at opportunities to sell 07 May expiry Nifty 9000 Put option as our trading strategy with 20 day EMA being our guiding factor.
Happy & safe trading...!!!
Nota
As was suggested Nifty did come close to 20 day EMA. 9000 PUT OPTION gave ample opportunity to sell above 82. Current price 30
The strategy worked well. Providing ample safety as well as giving decent profits.
Patience is the keep. Wait for your levels to come.
Consider booking profits & enjoy your day...!!!
Happy trading :-)
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