chambalabs

chambalabs

Nifty has been bearish for quite some time now but, it is going sideways it, hasn't really fallen through. So it would it would not be prudent to short it now. Until it falls below 11600, and the way it has been finding supports it has been like holding on its own, shorting it seems risky. And long red candles give high stop loss and near supports give very...

chambalabs Updated 

As expected, Nifty pulled back today. But, it could not cross the resistance. So, it's dancing between support created by previous breakout and resistance created by previous support. That's a strong support. But the weak resistance held on to its own. And the bearish engulfing candle from yesterday says bearish chart. Take trade only when the direction is clear...

chambalabs

Ok, that huge red is candle is clearly a bearish signal. But, I am yet to go short. When it makes such a huge move in 1 candle, some buying may occur. And the immediate support is at 11660, see the horizontal line to depict support. That's a terrible risk reward ratio...

chambalabs Updated 

I have been maintaining Bearish sentiment on Nifty. This is the third high which is lower than the previous. Short it!