Dear all
Yesterday as was expecting that nifty should take support of 6120-6130 and from here it should bounce but it did not happen. this was my assumption and yesterday price action once again given me a lesson that one should not take trade on basis of assumption do trade according to trend and on the basis of price action..
Yesterday I had mentioned that If nifty close below 6100 or below 6070 (intraday tick) then one should take short position with stop loss of 50 point (5 boxes ) and yesterday both levels breached .
Today I am attaching Two chart of nifty (closing basis and high-low method) where you can see that nifty has given sell signal with high pole, bull trap and relative high.. This sell signal has come after long time and first target will be 5930 . so those who had taken short position in nifty , hold with stop loss of 50 point and wait for the target…
Regards
Raju Ranjan
9975606284
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