| TRADE | STOPLOSS | REASON FOR Stoploss |
| Aggressive - Sold @ 6325NS/6360NF | Hour close above 6340 | Day HEMA/Hour channel breakdown |
NIFTY ANALYSIS:
Will Nifty make new highs, or is 6415 - sealed currently??? Charts gives both possibilities.
Nifty has to breakout of the Monthly Channel/weekly resistance Click Here decisively to get to new Highs.
A Bearish Wolfe wave pattern has formed in weekly charts.
The Bearish Wolfe wave pattern would be valid up to 6450-6470.
Day Chart:
Channel/Trendline resistance - 6425
Channel Support - 6130Hour Chart:
Retr for 6150 - 6415.25
38.2% - 6314
44.7% - 6296.68
50% - 6282
61.8% - 6251
78.6% - 6206
80% - 6203
88.6% - 6180
Retr for 5973 - 6415
23.6% - 631038.2% - 6246
44.7% - 6217
50% - 6194
61.8% - 6141
| TRADE | STOPLOSS | REASON FOR Stoploss |
| Aggressive - sell below 6330 NS | Hour close above 6340 | Day HEMA/Hour channel breakdown |
3 comments:
Madam
I have a query. The day close is not below DHEMA. Close is 6333 NS and DHEMA is 6322. Then how can we sell ? Am I missing something. Please explain when time permits.
Regards,
San
@ Santhosh,
The aggressive sell was initiated based on Hour channel breakdown @ 6330 and also as it was trading below Day HEMA.
If the close was below DHEMA, the aggressive sell initiated would have been carried forward with DAY HEMA as Stoploss. As the Close was above Day HEMA - technically it cannot be a short so squared off intraday.
Madam
So it is a intra-day trade. Whenever you say Aggressive- is it intra-day trade? Thanks.
Regards,
San
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