Today's Monday session is over, and Nifty remained trapped in a range. My view is simple: wait for the no-trade zone to break before taking any position.
✅ Above 24,630 and a successful retest, I will look for long opportunities.
✅ Below 24,529, I will look for short opportunities.
Keep in mind that tomorrow is expiry day, so risk management is very important. Trade only if the risk-to-reward ratio is favorable. Otherwise, waiting for a clear direction may be the better option.
This is an important zone because:
200 SMA is acting as a key target/resistance area for the bullish side.
200 EMA is acting as an important support area for the bearish side.
Once this range breaks, Nifty could make a fast move. However, there's also a possibility of another sideways expiry, often called a "seller's expiry."
For now, patience is the strategy. Let the market show its direction first.
What are your views? Do you expect a breakout, breakdown, or another sideways expiry? Let's learn together. 📊😊
Disclaimer:
This is only my personal technical observation shared for learning and discussion purposes. It is not financial advice. Please do your own research and consult a financial expert before taking any trade. If my analysis is wrong, I'll treat it as a learning opportunity and improve my understanding of the market.
✅ Above 24,630 and a successful retest, I will look for long opportunities.
✅ Below 24,529, I will look for short opportunities.
Keep in mind that tomorrow is expiry day, so risk management is very important. Trade only if the risk-to-reward ratio is favorable. Otherwise, waiting for a clear direction may be the better option.
This is an important zone because:
200 SMA is acting as a key target/resistance area for the bullish side.
200 EMA is acting as an important support area for the bearish side.
Once this range breaks, Nifty could make a fast move. However, there's also a possibility of another sideways expiry, often called a "seller's expiry."
For now, patience is the strategy. Let the market show its direction first.
What are your views? Do you expect a breakout, breakdown, or another sideways expiry? Let's learn together. 📊😊
Disclaimer:
This is only my personal technical observation shared for learning and discussion purposes. It is not financial advice. Please do your own research and consult a financial expert before taking any trade. If my analysis is wrong, I'll treat it as a learning opportunity and improve my understanding of the market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.