Nifty Today - 14th June
➡️Sgx nifty indicating a gap down open around the value zone of 15675
➡️ 15790 acting as the intraday point of control
➡️ Momentum remains in control of the 🐻
➡️ Longer term charts indicating levels of 16250 acting as a strong resistance
⁉️ How to trade the nifty
➡️ The longer term and intraday charts are indicating weakness
✅ The nifty remains a sell on rally
⚠️ The nifty is currently in oversold territory and a pull back cannot be ruled out
➡️ Ideal strategy would be to look for the formation of a bearish continuation pattern around the intraday poc Or look to take the trade in the direction of the momentum
✅ Make sure to keep your trades intraday , also do consider taking trades in the direction of the market sentiment
✅ The vix remains stable and this is a good sign , make sure to keep an eye out for any spike in volitality
✅ Ideally in a high volatile environment the key is to take the trade in favor of the trend & momentum
⚠️ Disclaimer
Information shared is for educational purposes only kindly do your own due diligence before initiating any trades
Wishing my friends a fruitful and profitable trading day of 👍
Cheers ☕
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