Nifty - Careful at The Tops of 10K

9 de jun. de 2020

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Video Description

In This Analysis, I have shown NASDAQ 100 Another Global Index which becoming messy upside & could also top out soon with wedge pattern- I suggest don’t hurry up & let the market show its own way down. Once Index starts falling we look for 8800-9000 as important support breaking that It can even test 6700 levels which was March 2020 low.
Previously, SP500 Index also checked which is giving the same impression of topping out- so, let it fall first- you just join the trend & don’t assume anything
Nifty could slip below 9950 for more on downside & take channel support close to 9400 levels if falls below channel then 9175/9000 levels will be tested
Going below 8800- Levels of 8000 will be on the menu.

Alternate Strategy
Taking support of channel close to 9400 could be a sign of explosive move upside for India Nifty which you need to take care – I back this strategy as I have done a lot of Portfolio stocks like TataSteel, ONGC, Reliance Industries etc.

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Please check the profile page for analysis on major stocks
in.tradingview.com/u/AbhishekHSinghCMT/

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Trading Strategy
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Plan
Sell Below 9950 for 9700 – Below 9600 for 9400 & further down if the channel gets broken to the downside.

Thanks for watching this video & your precious time.