Nifty headed to 16930 levels..and Below!

8 февр. 2022 г.

As suggested in yesterday's post, Nifty has fallen towards 17000 levels. For now i'm expecting 17050 to act like a good support.

First it should breach 17000 levels, where we may witness some drama, so, book partial profits here. If 17000 support gets broken easily, then next target is 16930.

Nifty will try test 16930 support levels, which have been acting as a significant support level since the ATH few months back.

The moment 16930 levels are broken, brace for a big fall towards 16500 and below.

Stop Loss suggested is 17155. I'm aware it's not a great SL for intra day trades. So enter shorts at your convenience and set SL according to your risk appetite.


Alternative View:
Nifty kind of tries to break 17250 resistance. So we may see movements between 17000 - 17250.

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
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- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

8 февр. 2022 г.

Заметка

Stop 17155 was breached. But as long as 17250 resistance level isn't broken, you can expect Nifty to touch 16930 level.

8 февр. 2022 г.

Заметка

Regarding the cheap comment made by el cheapo ritwik5ingh, I can either choose to ignore a barking mad dog or respond. I'm choosing latter.

Where was he when I posted yesterday? and before that..these ppl don't appreciate good predictions, but when I clearly mentioned it'll take time to reach 16930, he posts in a deriding way. Filthy mentality.

I mentioned 17050 is acting as a good support for now. I said the SL is unrealistic, and told it will take time and effort to reach 16930 level.