Nifty future has still downtrend for medium term, selling near resistance will prove to be most profitable strategy at this point of time. Reliance industries is not going to perform as gas production from its KG basin block hit a record low and also globally gas prices as making lower tops and lower bottoms. Short selling nifty future will be trading strategy to be adopted here. As per my experience trading in direction of daily trend makes you a profitable trader in long run, but fact is most of the retail traders’ trade against the trend. In this case markets are forming lower lows and lower high, so every bounce will create a shorting opportunity in nifty future. Traders those who follow technical analysis closely are always patiently waiting for such pullback/bounce before they take this type of trade.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
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