Nifty retraced to 78.1% of recent downtrend from 10929 to 10417 as shown above. And at 78.1% retracement pulled back and ended lower than that.
In Addition to this Shooting star Formation confirms the Short term Downtrend. Shooting Start is a bullish reversal pattern formed at a uptrend.
Immediate target placed around 10550 Level. While resistance is 10830.
Short CMP Target 10550 Stoploss 10830.
Look at the first 2 hours trade on nifty on 08-06-2018 before initiating trade .
Сделка закрыта вручную
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No significant followup sell-off after shooting star formation in daily chart. Hence closed trade with minor loss. Risk taking traders can hold. But exit when SL hits.