Nifty primed for a deeper pull back

• Continuous ascent from 20-Mar of about 20% gain, without any weekly pullback.
  
• Weakness exhibited on 21-August. Current levels are below the August weekly close.
  
• On 26-Oct, likely to test 19233 for expiry.
  
• Price over 19233 looks temporary and a good spot to accumulate Nov shorts with targets at 18646, 17900, and 17200.
  
• 18350 Puts are also well priced with 7x to 20x returns, for hedging, should there be a deeper pull back.
  

Pesanan dibatalkan:

This is a failed bearish setup.

Nothing is more bullish than a failed bearish setup.

Time to go high leverage long. Watch for speed-breakers at 18800 and 20200. If those are cleared, let the markets send funds to your bank account!