The Nifty has shut the shop with a hammer candle with just four points below the resistance zone of 5475 - 5550.
Nifty weekly trend:
UP : Above 5510
Side ways : below 5460
The weekly trend of the nifty change to DOWN, when the price closed below 5560 (weekly closing). After that price has fallen till 5246. which took support at support zone of 5204 - 5288 and bounced back strongly. But prices is not able to take the keep resistance of 5475 - 5510.This is just a pullback in weekly down trend.
The low probability trades are:
1. Trading against the trend, trading pullback against the trend.
2. Trading at support or resistance with the trend. (don't misunderstand this)
Happy Trading
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