Nowadays market is unpredictable. Trading in an oversold zone. Downtrend is strong but anytime can give a sharp recovery from here.
So, keep your positions light and focus on risk management.
Support has been shifted from 15800 to 15500 in Nifty and resistance is now at 16000.
New range for weekly expiry is 15500 - 16000 where max pain is at 15800.
if you are holding a short trade, I suggest hold it with revise stoploss.
For a new trade, risk is extremely high. so, avoid any short new trade here. Wait for some recovery till 16400 and then initiate a short trade on rise.
Always keep in mind that "Capital protection must be your priority in this type of market".
Stay safe. Hedge your portfolio and trade with discipline and patience.
If you stuck somewhere and want some help, feel free to post your queries in the comment box or DM me your query.
