Nifty: How Technical Analysis helped us capture today's fall

- In our previous post we had highlighted the zone of 18350-18445 as resistance zone

- 18350 was the high made on Oct 14th after which we had seen a big gap up opening


- on 20th Oct, the fact that it came down below that gap zone, made it a potential resistance zone and that is how it gained it's importance.

Rest Technical Analysis shows its magic.

- It hovers around the zone for 5 hours but didn't have the energy to go past and falls from there

- Those who took trading decisions based on Technical have been rewarded today.

- Going forward 18200 - 18286 is an important level to watch out for....

- on the lower side, if red dotted line is taken out, we could be staring at the Line of Support zone in November series


Our strategy of selling 25 November expiry Nifty 18600 Call option gave ample opportunity to sell at a higher price. Currently trading at 134 and is in good profit


Enjoy and Happy trading....!!!


Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

Operación cerrada: objetivo alcanzado:

Nifty has reached the line of support zone on the 1st day of November series.

Consider profit booking...
Shut shop for the day and enjoy your weekend...

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Happy trading...!!! :-)