Published 29th November 2018
The air is getting thin in the Nifty 50 index. Indian blue chips corrected from there October low. The index is approaching the 11,000 level, which has been our target throughout the past few weeks. However, the index is also approaching the junction where the paths of our most probable scenarios are splitting.
It is most likely essential to have a close eye on long positions from now on. Trailing stop loss levels could be very helpful to protect long positions. Potential levels for fractional S/L levels are along the support of the grey trend channel and at the red dotted horizontal support.
All in all, the risk is increasing significantly for a sharp reversal to the downside as the market advances.
The analysis above is a historical abstract of our Nifty 50 Premium Analysis. Subscribers can access multiple timeframes, which are not displayed on this page.