Nifty: Chart set up & trading plan

Nifty

- in the last couple of days Nifty has seen volatile up and down swings, however it has managed to make a higher bottom (positive)

- However in the broader picture we have seen Cross down of 20 day EMA below 50 day EMA (not a good sign)

- Important zone between 17417-17338 which may act as Potential Resistance

- 200 day EMA not tested since September 2020 (long time no see. Risk of testing 200 day EMA is high in the next 2 months)

Trading strategy:
- Keeping the trade light,
- not risking much
- keeping patience

We can not time the market, but when time comes we can be ready with our Plan of Action
On any further rise, if we see rejection especially around 20 day EMA, Risk::Reward ratio might then be favorable for taking short position

Take care & safe trading...!!!