Nifty 50 IndexLong
Profit booking rally in Nifty
Updated
Since the last 1D green candle close our market is down by almost 4.5%
Those who shorted the market heavily will start booking profits if the market start going up.
Because of this reason I'm expecting a positive day and close today.
Even the recent idea Elliott waves suggesting a retracement.
All the details are mentioned below
Entry:16930-16950 Depending on your risk per lot. Don't have a feeling of FOMO. No need to compromise. We can always find entry points.
SL :16880
Lets see If we can secure this trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Those who shorted the market heavily will start booking profits if the market start going up.
Because of this reason I'm expecting a positive day and close today.
Even the recent idea Elliott waves suggesting a retracement.
All the details are mentioned below
Entry:16930-16950 Depending on your risk per lot. Don't have a feeling of FOMO. No need to compromise. We can always find entry points.
SL :16880
Lets see If we can secure this trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Note
Small scalping Enter 16990
SL 16950
Follow the rules
Note
Scalping SLTrade closed: stop reached
Can't do much post 2 pm there is lot of selling pressure .Note
Lesson :Don't take morning setups in the afternoon. That too post 2 PM
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