PLEASE NOTE:- THIS IS A VIEW ON NIFTY INDEX NOT A SUGGESTED TRADE SINCE I DON'T TRADE WITH MONTHLY POSITIONS
!!CAUTION!! IN NIFTY INDEX -AS WE SEE THERE IS A CLEAR DIVERGENCE IN NIFTY INDEX ON MONTHLY CHART -MOMENTUM INDICATORS ARE LOSING MOMENTUM -CLEAR "DIVERGENCE" IS VISIBLE ON THE INDEX MONTHLY CHART -WE HAVE CLEARLY HIT RESISTANCE ON WEEKLY CHART -DAILY CHARTS ARE SHOWING SIGNS OF REVERSAL
TRADEVIEW :-I SEE FURTHER WEAKNESS :-SINCE HOLIDAYS ARE APPROACHING NEXT MONTH I SEE LESS INSTITUTIONAL ACTIVITY :-MONTHLY CHART DIVERGENCE IN PRICE AND RSI INDICATOR SHOWS BRUTAL DOWNSIDE :-I HAVE STARTED TO ACCUMULATE NIFTY 26TH DEC PUT OPTION OF 12000 STRIKE PRICE(IN THE MONEY RIGHT NOW)
TRADE IN ACC. TO NIFTY SPOT RATE (PLEASE ADJUST FOR FUTURES) SHORT @11950-11980 STOP @12100 TARGET 1@11820 TARGET 2 @11680
MORE TARGETS WILL BE VISIBLE AFTER THE ABOVE TARGETS ARE BREACHED
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Have added more shorts around 11980 and and 12050 stop increased to 12150