Nifty had closed below SMA 9 and 20 EMA. Possibly Nifty may move near 9 SMA and % SMA where shorts can be initiated. If Nifty open below 20 EMA, then also shorts can be initiated. Now SL is of 280 points so shorts can be covered according to risk capacity Low risk traders can cover shorts if nifty close above 5 EMA ie 18800
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Shorts have been initiated at 18800, As per closing rate profit is 150 points. Since nifty had become indecisive near 20 DEMA, shorts can be covered, of if nifty gives gap down opening tomorrow and trades below 20 Dema for 1 hr then shorts can be carried forward with SL of 18680.
