Nifty May Go to 24,800 If It Stays Above 23,600: A Trader's Technical Perspective (Part 4 – Final Part)Practical Trading ExampleLet us consider a hypothetical scenario to understand how a trader might apply the statement:"Nifty may go to 24,800 if it stays above 23,600."Suppose Nifty is trading above 23,600 and continues to make higher highs and higher lows. A disciplined trader may decide to monitor the market for a favourable entry
Nifty May Go to 24,800 If It Stays Above 23,600: A Trader's Technical Perspective (Part 4 – Final Part) Practical Trading Example Let us consider a hypothetical scenario to understand how a trader might apply the statement: "Nifty may go to 24,800 if it stays above 23,600." Suppose Nifty is trading above 23,600 and continues to make higher highs and higher lows. A disciplined trader may decide to monitor the market for a favourable entry rather than rushing into a trade. Instead of assuming the market will definitely reach 24,800, the trader waits for confirmation such as: Strong price action. Healthy trading volume. Positive market breadth. Confirmation from technical indicators. A clearly defined risk-management plan. This example illustrates preparation rather than prediction. The Importance of a Trading Journal One of the most valuable habits successful traders develop is maintaining a trading journal. A journal may include: Date of the trade. Entry price....