Nifty is trading within the box 26150-26300, entries can be taken around these levels for good RR.
Above 26300, upper trendline and 26450 (26300 + box points which is 150)
Below 26150, 26030-60.
Above is based on confirmation.
#Nifty50#stockmarketsindia
@adakshtrader Got it. Actually as per my understanding, 10 30 closing candle was like a pullback, and 10 55 candle which closed at 24427 was short setup with exit at 1 20 candle at 24344.
@TraderIit Hi IIT Trader, just want to check with you couple of below points:
1) Algo or Manual or both
2) Directional or neutral strategies or both
3) Max SL %
#NMDC has been trading in this Rectangle since last 4 months and has approached Resistance area. It will be good if it consolidates for couple of days and breaks this zone. Keep an eye on this stock. #SwingTrading#BreakoutStock#StocksToWatch#StockMarket
I feel that #nifty has made temporary bottom recently around 23250 levels. Mostly I am expecting market not to breach this level soon. FYI, since last 1.5 months Nifty was trading below 20EMA, now it is trading above 20EMA. #stockmarketcrash#StockMarketIndia
#banknifty was trading in the rectangle for quite some time, finally it broke the range. For traders, it is a sell on Rise in Bank Nifty till 51000 levels. Sideways between 51000 to 52500 levels. Bullish only above 52500 closing basis. Important support around 49700. #StockMarket
#nifty50 has tested the 200-day EMA today. It broke the 2 main swing lows (24700,23800) on the daily chart. For traders, it is a sell on Rise in Nifty based on MA's, Fibonacci, and Resistance. Bullish trades can only be considered if it sustains above 24500. #StockMarket#trading
#Nifty50 has been trading above the falling trendline and stuck in a wide range of 700 points (23800-24500) with high volatility. Bulls will be back once market closes above 24500, till then Strangles would work as per your adjustments. #StockMarket#Trading#Index
#NMDC has been trading in this Rectangle since last 4 months and has approached Resistance area. It will be good if it consolidates for couple of days and breaks this zone. Keep an eye on this stock. #SwingTrading#BreakoutStock#StocksToWatch#StockMarket
Outlook for 08Nov24:
#banknifty has formed Bearish Pennant in 15min chart. Breakout of 52000 or 51750 levels can lead do decent movement. Key Resistance is 52500-600, and Key Support is around 51000. #Trading