Closing Range - 19656/19909. Extended range 1 - 19565/20000, Extended range 2 -19446/20119
Price has a tendency to converge to Moving averages indicating a down move now. The candle formed is a shooting star when viewed independently but at the same time the pattern is a Bullish Kicker. Mixed signals for now. On the down side, 19600 is a strong support as per Options data & weekly chart.
Posible trade: Avoid taking trades till Nifty gives a clear directional sense. Go long at 19600 if we reach there. Trade with 1:2 risk reward ratio.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
Price has a tendency to converge to Moving averages indicating a down move now. The candle formed is a shooting star when viewed independently but at the same time the pattern is a Bullish Kicker. Mixed signals for now. On the down side, 19600 is a strong support as per Options data & weekly chart.
Posible trade: Avoid taking trades till Nifty gives a clear directional sense. Go long at 19600 if we reach there. Trade with 1:2 risk reward ratio.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
Nota
There is a lot of action in Primary Market starting today. 1 IPO is already open and 5 new opening today. In such times, we can see money coming out from the secondary market and move into the new IPOs, especially when markets are directionally unclear.Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.