December 9, 2017

Update on NIFTY trend

On 6-DEC, Nifty broke and closed below 10100. This triggered my trailing SL and I confirmed change of trend in Nifty. I also mentioned this was the first and only sell signal in Nifty this year.

Now I also mentioned that 10000 is a big support and will not break this series thanks to the massive put writing (open interest is still the highest).

Common sense dictates I take 10000 as the stoploss and not 10100.

This was a serious error on my part and this post is to put this on record that:

"trend is up and will reverse on close 10000 ... i.e. decisive break of 10000."

No comments:

Post a Comment