Nifty
- Important levels are given in the chart
- Earlier when Nifty was at 17050 odd levels I had given a bearish view
- Nifty is down 100 points from those levels
- Explosive movement has not happened so far but for the last 2 days Nifty is opening higher around 17000; trading above 17000 for a couple of candles on 15 min chart and then giving up in the 2nd half.
Is that a sign of a confident Bull or are the Bulls nervous or are the Bulls creating a trap for the Bears?
Well only time can tell that. Prima facie, for Bulls to regain control Nifty needs to sustain above 17155 / 17200 odd levels. Till then Bears have the upper hand.
Prima facie Expiry range for 29 Mar 23
Small Expiry range 16913 - 16991
Medium Expiry range 16874 - 17033
Broader Expiry range 16828 - 17065
For me Risk::Reward ratio not favorable to play for today's expiry.
For the April series, as a risk management measure Trailing SL to 17080 (Nifty Spot levels) on closing basis for April series.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- Important levels are given in the chart
- Earlier when Nifty was at 17050 odd levels I had given a bearish view
- Nifty is down 100 points from those levels
- Explosive movement has not happened so far but for the last 2 days Nifty is opening higher around 17000; trading above 17000 for a couple of candles on 15 min chart and then giving up in the 2nd half.
Is that a sign of a confident Bull or are the Bulls nervous or are the Bulls creating a trap for the Bears?
Well only time can tell that. Prima facie, for Bulls to regain control Nifty needs to sustain above 17155 / 17200 odd levels. Till then Bears have the upper hand.
Prima facie Expiry range for 29 Mar 23
Small Expiry range 16913 - 16991
Medium Expiry range 16874 - 17033
Broader Expiry range 16828 - 17065
For me Risk::Reward ratio not favorable to play for today's expiry.
For the April series, as a risk management measure Trailing SL to 17080 (Nifty Spot levels) on closing basis for April series.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
