Trade Plan 8th February :

NIFTY :  

Yesterday a long legged doji , warns the existence of bulls.
Most logical opening today should be a gap up.

But we need to make money rather feeling the pseudo confidence by speculating the Nifty trajectory.

What is my plan ?

Before it  , lets be aware a doji is a indecisive candlestick ( potentially reversal indicator) but it is validated only and only by the next day prices.
If we open in good green , its the reversal time and all the way bulls are back and we open down , we will take a deep dive.

But Not that easy as said. Lets dig it further and sync it with our trading decisions.

If we open green , I have levels where I will SHORT again and become a BULL above that level.
The level I show it as decider line in the chart below :
If we open up and get stuck in daily downward channel , we will again make a bloodbath.
Bulls have to , in any case have to open above the falling channel and stay above it. Below it , a tick to down and traders like me will butcher it to the dearth.

Let Nifty Open anywhere , let it dance for first 15 minutes.
If prices are below 5960 , SHORT with SL 5969 (5968 is 5 ema in daily charts)
If prices are above 5969 , initiate LONG with SL 5960 (our decider line )
No matter even we open at 6000+ , if we again try to fall below 5960 , strive your ax

SS