Nifty has been at the all time highs and people buying pretty much everyday or the other. We need to have a bit of reality check here. It's totally fine to hold your Long positions unless and until some real negativity pops up (eg, Newton's First Law ~ An object in motion will continue to be in motion unless and until some external force acts upon it :D )
But what to do if a sudden breakdown comes ? where to create positions ?
Here's an answer to that.
1. If Nifty continues to move along the critical support line, let's continue being bullish
2. If Nifty breaks the critical support line,
a. Support 1 is at 14200
b. Support 2 is at 13850
c. Support 3 is at 13000 level
There might be some consolidation phase between Support 1 & Support 2 as well.
Why do I think a breakdown might happen ?
a. Experience :)
b. All financial metrics are hitting all time high
c. Most of the good news & certainty news are almost over
d. Institutional buying is thinning out
c. Definitely we are due for a correction for quite sometime
But we need to remember this is our contingency plan and we continue to be long across all positions unless our TL breaks
But what to do if a sudden breakdown comes ? where to create positions ?
Here's an answer to that.
1. If Nifty continues to move along the critical support line, let's continue being bullish
2. If Nifty breaks the critical support line,
a. Support 1 is at 14200
b. Support 2 is at 13850
c. Support 3 is at 13000 level
There might be some consolidation phase between Support 1 & Support 2 as well.
Why do I think a breakdown might happen ?
a. Experience :)
b. All financial metrics are hitting all time high
c. Most of the good news & certainty news are almost over
d. Institutional buying is thinning out
c. Definitely we are due for a correction for quite sometime
But we need to remember this is our contingency plan and we continue to be long across all positions unless our TL breaks
Nota
Markets seems to be very close to the TLNota
Idea on a roll. in 2 daysNota
Let's kick off start profit booking --- Swing folksNota
Will book 50% now around 14150. I hope you all listened & mintingNota
75% booked at 13750 levelNota
Today re-entered shorts at 13800 level closed all positions at 13675-12695 in order to avoid overnight volatility of budget day More than 1000 points in NIFTY!!!! Great Trade closed
Dagangan ditutup: sasaran tercapai
Coordinates :
Detailed demo/Live replay : youtube.com/channel/UC79RlSqRn85th7zgpZpz3Iw
email : quantumtradingsystem@gmail.com
Detailed demo/Live replay : youtube.com/channel/UC79RlSqRn85th7zgpZpz3Iw
email : quantumtradingsystem@gmail.com
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.
Coordinates :
Detailed demo/Live replay : youtube.com/channel/UC79RlSqRn85th7zgpZpz3Iw
email : quantumtradingsystem@gmail.com
Detailed demo/Live replay : youtube.com/channel/UC79RlSqRn85th7zgpZpz3Iw
email : quantumtradingsystem@gmail.com
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.