THE EFFECT OF TAKEN OUT CONDITION ON NIFTY TODAY

Hi Traders,
This post shows the effect of taken out condition on support and resistance levels posted on the community tab yesterday along with the trade idea in advance for this day of trading. This is consistent performance has been posted regularly on records. Below was the idea posted yesterday to trade nifty. Point no.4 clearly mentioned this fall.

Trade Idea of nifty for 6-12-2021

1. If the price opens near zone 2 and takes support then might be range-bound in the small upper range, the upper end will be made with this process.

2. on the contrary, price opens near zone 1 and takes this zone as resistance then the red color line should be used to book profit.

3. In case, price opens below zone 2 and takes this as resistance then a red color line should be used to book profit.

4. Here I used two red arrows upper one shus a change of sentiments to the downside and the lower one shows free fall.

Yogesh Vats