Nifty remains in an upward trending main channel and within a downward trending minor channel. A technical bounce back occured today but since mother market i.e. USA market was closed and thus we may feel the heat as FIIs also move on year end holiday and will be allocating funds for investment in January first week now.
Last week Nifty gave a breakdown below its july upward trendline and closed below it.
Today it is retesting the same trendline. On the other hand Bank Nifty held on to its trendline and is yet to give a breakdown.
This forms the basis of the trade which gives us a high probability for the short on Nifty to play out.
Will not be easy to catch the trend midway but probability says Nifty is sell on rise now and now you can make excellent profit using our daily Nifty options tip and Bank Nifty Option Tip on a daily basis.
