Swing Trader | Investor | Not SEBI Registered
Joined September 2021
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Nifty has rallied nearly 2,200 points in the last 7 trading sessions. At what levels are you looking for shorting opportunities?
Wishing you and your family a Dhanteras filled with joy, prosperity, good health, and happiness. May Goddess Lakshmi bless your home with abundance and positivity.
Happy Dhanteras! 🪔✨
#RENTOMOJO
Closed fully at 607.60 ahead of the event tomorrow and earnings next Tuesday.
Portfolio Impact: +1.7%
#RENTOMOJO
Added today at 559, with a day low stop.
Strong close with good volumes!
#NIFTYSMLCAP250
All small-cap and mid-cap indices are approaching strong resistance near the 20 EMA. While the indices have moved up well from the recent swing low, the broader market is still lagging. Thrust is completely missing. Only Intraday in EPs are working well at the moment. The rest of the stocks are moving randomly, without proper setups or clear entry points.
This week is important as we are trading near resistance, with the US midterm elections also taking place today. So, need to be cautious at these levels. A small pullback followed by a mini base formation would actually be healthy for the market. It would allow many stocks to form proper right-side formations.
From a swing perspective, it’s clearly a Wait & Watch market. If attempting any trades, keep your position size small.
#NIFTYSMLCAP250
The market had bounced for 4 consecutive sessions and was trading near a strong resistance zone along with short term EMAs. Today, the market has started giving a pullback and is now down nearly 2%.
This is why it's important to stay cautious when the odds are not in favour for going long or taking aggressive swing trades. Today's and Monday closing will be important to understand where the market is headed next. Until then, stay on sidelines.
