Note : The contents of the blog are personal views of the writer only for educational purpose on Index. Consult your Financial Advisor before taking and Trade.

 

 

Dated :- 25.04. 2021                                 NIFTY SPOT : 14341.35

                                                                                                         

Hi Readers

 

As mentioned in my previous blog Nifty came down and made a low of 14218 and closed at 14341.

 

Now what :-

 

In the coming week the chart structure is very interesting.

Where on one hand we maintain that the overall Nifty is sell on rise.

But on the other hand the doji on weekly charts and resilience by Nifty to break 14200, together with the short term indicator at make or break level. The coming week, might prove to be a, full body candle week either green or red.

Thus the idea is to play with the direction, and in case any short covering, if it starts then one should try to participate in that. But only once it starts with small stop loss.

 

Thus the trade setup is to wait and let Nifty come down because the down moves will be sharp and can be relentless also. But if any short covering starts then try to participate in that short covering with small stop loss. The next two - three days are best time for short covering if it has to come.

 

 

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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