Long or Short Opinion
- Thread starter rajputz
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Going by SGX if we open around 5000, this will be third time when NIFTY is close to 200 DMA. We bounced twice earlier. Will it bounce today as well?
Earlier two times, I was confident market would give bounce, this time I am not very confident. It is a 50-50 situation this time.
As I said in the other thread yesterday, closing below 200 DMA will be bad for our market. It will be matter of 2-3 three days to fall to 4500-4600 price range.
For today's trading, I will go by intraday chart, if I see some buying, will buy for intraday trade. We have to see for selling means, max I can do scalp trading for fresh position. Personally, I avoid trading at low.
As per my understanding, proper selling level is 5090-5100 NF range. One can ask whether we can go there now. Yes we can go there!
One can be very careful in buying for intra or 1-2 days trading. Should have SL. Should not get trapped here. Can be cutting knife if goes down.
Earlier two times, I was confident market would give bounce, this time I am not very confident. It is a 50-50 situation this time.
As I said in the other thread yesterday, closing below 200 DMA will be bad for our market. It will be matter of 2-3 three days to fall to 4500-4600 price range.
For today's trading, I will go by intraday chart, if I see some buying, will buy for intraday trade. We have to see for selling means, max I can do scalp trading for fresh position. Personally, I avoid trading at low.
As per my understanding, proper selling level is 5090-5100 NF range. One can ask whether we can go there now. Yes we can go there!
One can be very careful in buying for intra or 1-2 days trading. Should have SL. Should not get trapped here. Can be cutting knife if goes down.
Last edited:
No No nothing personal. The reason for me suggesting a buy are following.
Theroatically widout seeing at the charts, the move was in a down market and that too with good volumes, plus some other signals are good. I am positive on it above 1032 only with hard stoploss of 1023. If after opening it starts to move down, then no buying. But if it starts to move up, the it can give good returns on intraday or swing. only if it starts moving up.
For my paper trade, i have considered it buy at 1032/1050 for target 1074 / 1099 with stoploss 1023. Risk reward is good. Risk of 11 points and reward of 25+. Also it goves enough room to test what conditions to avoid in future.
This was pivot based buy.
Theroatically widout seeing at the charts, the move was in a down market and that too with good volumes, plus some other signals are good. I am positive on it above 1032 only with hard stoploss of 1023. If after opening it starts to move down, then no buying. But if it starts to move up, the it can give good returns on intraday or swing. only if it starts moving up.
For my paper trade, i have considered it buy at 1032/1050 for target 1074 / 1099 with stoploss 1023. Risk reward is good. Risk of 11 points and reward of 25+. Also it goves enough room to test what conditions to avoid in future.
This was pivot based buy.
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