Nifty Idea on next 1 week ( 22nd July to 31th July'2020)

We have hope trading vs reality trading.

Hope Trading:- All is well, the COVID vaccine in line and economy will bounce back.

Reality:- COVID is a reality, the economy will take years to recover and Nifty P/E 29.01 on 21st July.

RSI is at 52 week High

We are in PRZ - Price Reversal Zone so be cautious.

Wait for reversal signal on chart to short, blind short can make you start hope trading.