On 6-DEC, Nifty broke and closed below 10100. This triggered my trailing SL and I confirmed change of trend in Nifty. I also mentioned this was the first and only sell signal in Nifty this year.
Now I also mentioned that 10000 is a big support and will not break this series thanks to the massive put writing (open interest is still the highest).
Common sense dictates I take 10000 as the stoploss and not 10100.
This was a serious error on my part and this post is to put this on record that:
"trend is up and will reverse on close 10000 ... i.e. decisive break of 10000."
Now I also mentioned that 10000 is a big support and will not break this series thanks to the massive put writing (open interest is still the highest).
Common sense dictates I take 10000 as the stoploss and not 10100.
This was a serious error on my part and this post is to put this on record that:
"trend is up and will reverse on close 10000 ... i.e. decisive break of 10000."
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