General Trading Chat

ap*

Well-Known Member
With no major positive trigger to take nifty past 8000 ( at the moment ) I think shorting is the only way to go till 7970 is taken out on spot. Somehow dont see that happening. Somehow i see a lot of call writing happening at every upmove. Could also mean that these upmoves are being used to enter short positions before a major down move.

This is just my point of view. Im far from a successful trader so please dont think that nifty will go down or im saying this because im short. These are just my views. I would love to be corrected and learn in the process.
 

LoneWolf

Well-Known Member
With no major positive trigger to take nifty past 8000 ( at the moment ) I think shorting is the only way to go till 7970 is taken out on spot. Somehow dont see that happening. Somehow i see a lot of call writing happening at every upmove. Could also mean that these upmoves are being used to enter short positions before a major down move.

This is just my point of view. Im far from a successful trader so please dont think that nifty will go down or im saying this because im short. These are just my views. I would love to be corrected and learn in the process.
Thank you AP, for sharing your views. I have closed my shorts yesterday. and LONG since today morning. Yes 8000 is acting as a major resistance so far. No idea whether price will break it or reverse from there, but the timeframe that I trade made a reversal to uptrend above 7830 (Spot Value)..So just going with my trend.
 

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