Nifty: Channel Play -- Sell High & Buy Low

13 Haz 2017

A simplest way to earn money in the stock market is to buy low-sell high or sell high-buy low but perhaps it is the most difficult principle to apply in practice.

It can be observed that Nifty has been moving in a downward sloping channel. Today, it retraced exactly from the channel resistance line. Perhaps we may see many ups and downs as Nifty bounces off from channel support line and falls back from resistance line. But as mentioned in my earlier post 9530-9550 confluence zone should act as a support.

Lets see how well can we play the simple principle in the coming sessions.

Play safe
Thanks

# Also refer my earlier detailed post on Nifty https://in.tradingview.com/chart/NIFTY/jP1pFol9-Nifty-A-Correction-Might-be-on-the-Cards/

14 Haz 2017

Not

Price just shy of touching the support line and bounced back.

14 Haz 2017

Not

Nifty bounces from the support i mentioned earlier. Presently i would avoid Nifty as this is in the middle of channel. RRR is not good.

14 Haz 2017

Not

I mean I avoid fresh longs at this point.

15 Haz 2017

Not

Nifty at channel support and near confluence zone of 9530-9550