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indiamarketoutlook
21 gen 2022 05:54

Nifty near 50 day EMA and 38.2% retracement  

NSE:NIFTY1D
Nifty 50 IndexNSE

Descrizione

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Nifty

Nifty is trading below 20 day EMA.

Nifty is near 2 important levels i.e 38.3% retracement level & 50 day EMA around 17609-17623 odd levels

Plan your trade accordingly

Take care & safe trading....!!!

Disclaimer
- The view expressed here is my personal view
- 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
Trend AnalysisMoving AveragesNIFTY
Commenti
architk
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A reversal is expected from these levels. right sir?
indiamarketoutlook
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@architk, the overall structure is still weak but, if I have to take a trading bet then yes at this level, I am playing for a minor short covering rally.... that is the idea.
architk
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@indiamarketoutlook, Sure sir... feel the same.
dhavaltrades
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Tomorrow seems to be a gapdown.
So you are expecting a reversal 61.8% ? Or some support at 17380 around?
indiamarketoutlook
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@dhavaltrades,
I had shorted 24 Feb expiry 17000 Put option on Friday but exited with a 15 point Loss the same day.

Today, I have shorted 16700 Put today at 153. that takes care of 61.8%, & 76.4% retracement as well.
Parasuram
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why didnt you mark 50% retrcement? if the days low is broken it might head there
indiamarketoutlook
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@Parasuram, i generally don't follow 50% retracement as it is not a Fibo number.

For me it is either 38.2 or 61.8 or 76.4% retracement that I follow
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