NIFTY 26 JULY 2021 : Again trade near 15900 would not be good to stay long. It may fall again.

 

Good Morning Friends, 

In the last trading session when Nifty came at 15883, I punched order to book all my long position and added few puts. I posted hourly chart above. You can see how many times it has slipped from 15900 or nearer levels. 

My point is clear - If I have to buy from near to 15900 then I will prefer to buy a breakout close. Else I will remains blank. 

If price follow history then it can again slip towards 15600 levels. As of now, it looks like we are in a range. Best part is that even after it stuck in a range it gives trade. Well, but you have to be on right side. 

Let us see how it react today. 

Happy Trading, 

Praveen Kumar