16930 or 17800 - Which level will we see first??
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Which one of these 2 levels will we see first, 16930 or 17800?
I say the Dark red line holds the key. And going by that I think we'll see 16930 first, and I hope we can agree to disagree.
Upside:
Go long above this line, and keep the line as Stop Loss. Just note 17670 is a strong resistance level.
Downside:
Go short below this line, and keep the line as a stop loss. I'm on this side right now.
Tomorrow is Wednesday, a day before expiry. So, expect some volatility which is an useful tool for sellers to decay time.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
I say the Dark red line holds the key. And going by that I think we'll see 16930 first, and I hope we can agree to disagree.
Upside:
Go long above this line, and keep the line as Stop Loss. Just note 17670 is a strong resistance level.
Downside:
Go short below this line, and keep the line as a stop loss. I'm on this side right now.
Tomorrow is Wednesday, a day before expiry. So, expect some volatility which is an useful tool for sellers to decay time.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Nota
Nifty opened above the Red Line, and kind of took support of the line. You can choose to go Long as long as Nifty stays above this line.So far, Nifty struggled to break 17420 level in 30 Min Time Frame. You can wait till Nifty breaks this Resistance.
Keep the Red line as a STRICT STOP LOSS when you go Long.
Be ready to switch sides based on Nifty's movements.
Good Luck.
Nota
To be on the safe side, enter after the index closes above 17430 in 30 min TF.Unless this happens, there's no point in dreaming about 17800.
Nota
Ok. 17430 done it looks like. Next hurdle is 17480. Keep that as Target. 17416 / 17380 as Stop Loss per your risk appetite.
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