Are you guys overloaded with Diwali sweets ? Here is another short & sweet setup in Nifty. You guys are awesome, so just with look over the above chart you might have realized we are looking for Breakout. Though we are bit undecided about direction of breakout, take care of false breakouts with proper stops & quick reversal on opp. direction move. This is the only way you can cut your losses in false breakouts & more importantly it should have been part of your trade plan. If something is not in your plan check whether that suits your plan first & then implement, else skip it.
I don't want Nifty to fill the gap @8670's but let's see what happens. We may see slight upside move which may look-like breakout & then falls down insync with yesterday's Nifty post "Welcome Samvat 2073". Whatever happens I don't like to see Nifty breaching 8700's if that happens we need to go with bulls & search for bull entry reasons.
BankNifty post on the way, will post after Market opens..
For positional Nifty check yesterday;s post..
InsiderB !
I don't want Nifty to fill the gap @8670's but let's see what happens. We may see slight upside move which may look-like breakout & then falls down insync with yesterday's Nifty post "Welcome Samvat 2073". Whatever happens I don't like to see Nifty breaching 8700's if that happens we need to go with bulls & search for bull entry reasons.
BankNifty post on the way, will post after Market opens..
For positional Nifty check yesterday;s post..
InsiderB !
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Nifty is forming flat rectangle, which is result of ranging we are going to have good breakout for sure !
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The flat rectangle :
