NIFTY : RoC CONTINUED ITS DIVERGENCE.
Nifty today broke yellow uptrend line in morning and was well below it l. During last hrs ifty recovered and regain uptrend line. But ROC continue its divrgence and move further down near zero. On 18 considerig RoC divergence precautionary approach was taken and on 19 th nifty after making double top at 1880 it gave up all gains and short were considered at 18800.
Today nifty had made low of 18660, recovered all loss and closed at 18816 where shorts were onsidered.
How to Manage trade in this volatile Market.
Since double top is at 18880, risk reward ratio is 1: 11 ( for next expiry.). Short is considered at 18800. So loss is 5000 , going by chart if RoC continues its divergence then first target is at 20 D ema at 18650 ( today nifty almost did its target). Next support is at 18440, as ifty had managed to resume its uptrend from this level on 1st June . At this level shorts can covered or trailing SL of 18550 should be maintained since this was area where nifty was indecisive. And last if 18400 is broken then nifty can come to 18000. Here total 800 points profit is earned. I.e 40000 Rs.
To trade this way needs lots of patience and continuous monitoring and capital.
Here nifty levels are given as investors can book profit encash their holdings and re enter at lower levels. Divergence and other indication are looked for judging trend reversals. As soon as trend reversal is noticed precautions are taken (like suggested on 18th June) and start booking g profit.
Today nifty had made low of 18660, recovered all loss and closed at 18816 where shorts were onsidered.
How to Manage trade in this volatile Market.
Since double top is at 18880, risk reward ratio is 1: 11 ( for next expiry.). Short is considered at 18800. So loss is 5000 , going by chart if RoC continues its divergence then first target is at 20 D ema at 18650 ( today nifty almost did its target). Next support is at 18440, as ifty had managed to resume its uptrend from this level on 1st June . At this level shorts can covered or trailing SL of 18550 should be maintained since this was area where nifty was indecisive. And last if 18400 is broken then nifty can come to 18000. Here total 800 points profit is earned. I.e 40000 Rs.
To trade this way needs lots of patience and continuous monitoring and capital.
Here nifty levels are given as investors can book profit encash their holdings and re enter at lower levels. Divergence and other indication are looked for judging trend reversals. As soon as trend reversal is noticed precautions are taken (like suggested on 18th June) and start booking g profit.
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