Long

Nifty: Major Reversal Levels @ 19550-19650

Updated

I am expecting weekly closing above or near 19100.
There is a resistance levels @ 19100-19200 but nifty is not showing any weakness near these levels.
If this will happen then it will be the strong close on weekly chart.
In that case next major reversal levels will be 19550-19650.

Kindly check the below link for my current and pervious trades with logic.

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Note

Trade closed: target reached

Profit booked in short position in19100 PE @ 67... Entered @ 100 as mentioned in the last post.

Trade active

Took Short Position in 19200 CE @ 62...
RR is in my favour....19100-19200 is a supply zone.

Trade closed: stop reached

Trade active

Again Entered in short position in 19100 PE @ 58 ...

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Add few short qty in 19200 PE @ 88...and going to carry the both strikes

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I was expecting some minor retracement from 19100-19200 ... so I shorted 19200 booked loss of 8 point only...

But Nifty is not ready for the it and there was a strong selling in 19200 PE strike.

Anyways it was a very good week...have a gr8 weekend to all...

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19200 PE Shorted @ 88 on Friday ... CMP @ 50...
I m done for this week...I am gonna hold this till Exp...unless SL of will not triggered ... also not interested to change my strick

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Nifty has to struggle a lot to triggered my SL of 19200 PE...
It was a gr8 week...
Started with all ITM 18800 PE - 19100 PE and last one is 19200 PE...

Now I will trade in next exp once I will get the reversal or follow through sign from Next Demand-Supply Zone.

Now no more updation for this post...Thank x :)

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Nifty is tired now...Booked profit in Long position in 19200 PE @ 17
New position is: Short 16th Jul Exp 19500 CE @ 85

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This will be a very risky trade but I m in a huge profit from last 2 weeks so... Taking aggressive risk.

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Exited from shot position cost to cost
It's confusing right now

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Sold 19400 PE @ 65 ...
Again time wise correction...

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FINNifty 20300 CE looks interesting @ 150 with kust 10 points risk.

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Exited from long...almost cost to cost

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Made a short Position in 19400 PE current exp @ 45 ... risk is 15 points

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50% risk is reduce in 19400 CE...CMP @ 25
Now My Sl @ 51

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FinNifty 20300 CE looks gud @ 90 with 12 points risk.

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20300 CE @ 115 ... I may think to book profit between 130-135...

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it's also possible tht 20300 CE may test 200 because It is trading in the wide range...
I bought this call @ the lower range of the range...It may try to go to the higher side of the range.
If this will happen then only it may test 200 ...
Also Nifty @ 19450 and I am seeing still 100 points up move and FinNifty may lead this really ...
Lets see

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Profit booked @ 130

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Booked 19400 PE short position @ 15 ...
Short 19500 CE 13th Jul EXP @ 95 with 10 point risk

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That's it for this post...
I may update further views in the latest Nifty's post if i will get the time.
Thank x :)

svapnilchoksi

Also on:

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Nifty: Bullish...Only Time Wise Correction

by svapnilchoksi

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