Bears are back !!!! It was a comeback of sorts at NSE. Despite reliance holding up, bears thrashed banks and as a result nifty closed down by 4.35%.
Bull Level
Scenario 1: Dow tanks tonight and market opens with a huge gap down
Buy nifty future at 2912 with stoploss at 2893 for target of 2990.
This strategy will become a high yielding one, if when nf is near 2912, reliance is trading around 1485 which is the bearish target of reliance.
If 2893 is hit, NF will fall to 2850.
Scenario 2: No gaps (well, i havent seen that a lot in the near past)
If nifty future crosses 3050, buy at retracement level 3029 with SL at 3008 for target 3095.
Bear Level
Short nifty future at 3021 with SL at 3049 for target 2945, 2912.
Eye of the tiger
I was going through titan charts, and it makes really interesting reading for intraday punters.
On Tuesday if titan does not break 740, it would be wise To long with initial stoploss of 740.Once market stabilizes, SL can be moved to opening lows.All this for a target of 840.
HaVe a GREAT Trading Day !!!!!
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