{"id":1588,"date":"2013-03-05T12:00:52","date_gmt":"2013-03-05T06:30:52","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=1588"},"modified":"2018-07-13T18:07:38","modified_gmt":"2018-07-13T12:37:38","slug":"nifty-sloped-retracement-explained","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/nifty-sloped-retracement-explained\/1588","title":{"rendered":"Nifty: Sloped Retracement Explained"},"content":{"rendered":"<p style=\"text-align: justify;\">In the latest\u00a0Free Weekly Webinar that we host every Friday, we mentioned that there is a case for a recovery in the Nifty. What was the basis for saying so? The basic logic is that of Sloped Retracement, a concept that has been discussed a lot in prior posts. Kindly direct your attention to the daily chart of the Nifty featured below.<\/p>\n<a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/03\/Nifty.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-1590\" alt=\"Nifty\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/03\/Nifty.png\" width=\"1340\" height=\"586\" \/><\/a>\n<p style=\"text-align: justify;\">We voiced a cautious view on the Nifty when the index failed at the upper blue line. Note how the middle line, which is nothing but a 50% dynamic retracement, has acted as a support for the index. There is also an unfilled gap, highlighted in the chart, which lends credence to the positive view.<\/p>\n<p style=\"text-align: justify;\">Does this mean that the Nifty is headed to new highs from hereon? Not for a moment are we suggesting that. The objective of this post is to illustrate how a few basic technical analysis concepts can be stringed together to identify a low risk counter-trend trade. \u00a0The other interesting aspect with this trade was that there was a logical and affordable stop loss level in the form of a major swing low at 5,548.<\/p>\n<p style=\"text-align: justify;\">Any recovery in the Nifty could run into resistance at 5,820-5,850 range. Trailing stops may be snugged closer to the price action once the index moves closer to this resistance zone.<\/p>\n<p style=\"text-align: justify;\">A fall below the major swing low of 5,548 would indicate resumption of the downtrend and we would then expect the slide to extend up to 5,250-5,300 range.<\/p>\n<p>Trade Safe &amp; Don&#8217;t Get Hurt<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the latest\u00a0Free Weekly Webinar that we host every Friday, we mentioned that there is a case for a recovery in the Nifty. What was the basis for saying so? The basic logic is that of Sloped Retracement, a concept that has been discussed a lot in prior posts. Kindly direct your attention to the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[67,89],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nifty: Sloped Retracement Explained<\/title>\n<meta name=\"description\" content=\"We have maintained a positive view on Nifty since Friday. Here are the reasons behind the same. 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