NIFTY Outlook for June 22-27! Expiry week volatility
Good area to initiate a trade. 10300 area is the execution range in the yellow box.
Technically I would prefer taking a swing trade for target Expiry on 25th.
On the short side, a good opportunity with minimal SL :-
Enter around 10300 intraday at open with STRICT SL 10360, upon hitting which i will switch to the Long side for a Swing trade.
The target for shorts are given on chart. Please also note the Fib levels of the previous high low rally of NIFTY. It is always better to be in a safer position and initiate trade near the trendline. Breaking down on the previous RED trendline i will initiate a short intraday for ST1 and ST2 on respective green trendline and 0.618 Fibonacci levels. I don't expect very massive bad news for the market to break down below that so i will keep booking profit.
On the contrary if it opens and breaks the Stop Loss i will initiate a Long trade for a rally in NIFTY upto 10800 levels, technical breakout is possible although not very probable without Excellent news driven inflows in the market.
Technically I would prefer taking a swing trade for target Expiry on 25th.
On the short side, a good opportunity with minimal SL :-
Enter around 10300 intraday at open with STRICT SL 10360, upon hitting which i will switch to the Long side for a Swing trade.
The target for shorts are given on chart. Please also note the Fib levels of the previous high low rally of NIFTY. It is always better to be in a safer position and initiate trade near the trendline. Breaking down on the previous RED trendline i will initiate a short intraday for ST1 and ST2 on respective green trendline and 0.618 Fibonacci levels. I don't expect very massive bad news for the market to break down below that so i will keep booking profit.
On the contrary if it opens and breaks the Stop Loss i will initiate a Long trade for a rally in NIFTY upto 10800 levels, technical breakout is possible although not very probable without Excellent news driven inflows in the market.
İşlem kapandı: hedefe ulaştı:
Book partly at T1