Currently Blood, Fear, Anger is there on the streets especially for the Put writers, Investors, Long Only traders. But let me tell you something, “markets are filled with emotions, fear & greed”.
It is easy to say “buy when others are fearful and sell when others are greedy”. Markets are offering one such fearful scenario which brings more discomfort to most of the traders.
I’m just going through the charts where I am seeing too many emotions from the traders, especially investors too joining this bearish bandwagon.
However, from the charting perspective, I am seeing too many gaps open for this current swing and one of my favorite pattern Island Gap reversal is open in Nifty Spot. This comes around 12071. Practically speaking it could be an ideal zone to consider longs for the target of the closure of Island reversal gap in the next 3-4 months of horizon period.
Island Gap reversal is one of my favorite trade setups. Which we talked about it numerous times in our blog with live examples. Following are some of the trade setups and tutorials.
That means if you are an investor out there It is a reasonable opportunity to get a fair value at the current juncture.
At the time of writing Nifty spot had done a low of 10294. All I am hearing from the traders, investors, media channels, the social media group is just bearishness what do you think?