Nifty (Short): Bearish Crab Pattern & Double Top
Actualizado
Bearish Crab Pattern Completion
Market is consolidating for past two days
Nifty has Double top formation near Crab Completion
Though it took out my stops on previous trade, we got another chance to enter at more better spot with Double Top.
While I am posting this its forming bearish doji, enter this trade after the current candle closes in Bearish mode
We are targeting around 7900's (300 points) , so 100 -150 point stops ( 8300;s) won't do much damage.
But if you are very conservative trader, Please dont risk.
Market is consolidating for past two days
Nifty has Double top formation near Crab Completion
Though it took out my stops on previous trade, we got another chance to enter at more better spot with Double Top.
While I am posting this its forming bearish doji, enter this trade after the current candle closes in Bearish mode
We are targeting around 7900's (300 points) , so 100 -150 point stops ( 8300;s) won't do much damage.
But if you are very conservative trader, Please dont risk.
Nota
RBI policy will decide the direction of Nifty ? We will get to know @11.00 am today.My opinion is - Policy Rate Unchanged ( Market falls) - Higher chances
If Policy rate cut - Market veers off to higher highs.
Lets see what RBI Governor has in mind @11...
Nota
Nifty is 45 points short of my stopsNota
This trade is lesson for everyone of Us. We took short positions around 8200's based on our analysis with stops above 8300's but Nifty straight away raised to 8300 and niggled with those levels and turned back to profits.That's why every trader should be really patient & dont change anything after fixing their stops and targets.
Always follow your plan it will be rewarded for sure ! Happy Trading !
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