Did you see what happened in the Indian Share Market today?
Just check the 1-day candle of the Nifty-50 chart.
As I have already told you in some of my previous posts that whenever the market gives a breakout it comes back ad takes a retest. Only then we can be sure of that breakout.
So what happened in the market?
As you can see in the image above, the market broke our zone and keep going up.
But we’re not sure that if that breakout is true or fake.
So we were waiting for a retest. And today we finally saw that retest.
So our study is proving true. Our setup is working properly.
So what about Tomorrow?
As I was saying we have to be sure about those breakouts.
Because you will see many fake breakouts in the market. So keep an eye on them.
So learn to draw trendlines and zones and follow your study.
That’s what we are gonna do. The market has given a breakout already and take a retest.
There are high chances that the market will create a green candle tomorrow or the day after tomorrow.
And it will keep going up crossing 18000 very easily.
But that is just my view. Anything can happen in this market.
So we have to prepare ourselves for any circumstances because Coronavirus is spreading again rapidly.
Which can be very bad for this market.
So what can we do?
Well for starters we can start using Stoploss.
I have seen many new traders who take trades without any stop-loss.
If you trade like this, please stop trading then.
You always should have a stop-loss. It can be mentally too.
So if you are taking any risky trades keep a stop-loss in mind and keep an eye on nifty.
Also, keep updated with current news. Anything can affect the Share Market.
So I think that will be it from my side.
Feel free to read my other gem-like posts.
If you have any doubts, complaints, or suggestions, do let me know in the comments.
See you next time bye-bye.
Keep calm and keep learning.