Trade Log NIFTY June 10
In my trade log yesterday, I had said
1. NIFTY is in consolidation. It is likely to see some downside tomorrow as well.
2. This is not a simple dip, This is likely to form range.
3. 10300 is firm resistance, any upside is possible only above that.
4. NIFTY is now searching for lower end of the range - first candidate for that is last swing low 9950.
This is view is not yet changed. I am going to assume range of 9950-10300, till it is broken on either side.
My trades today.
I did not take any trades, as none of the levels in my plan were hit, also NIFTY did not move in the direction I assumed.
Observations for the day
1. NIFTY formed the inside candle. It closed with 0.69% positive.
2. BANK NIFTY did better with 1.81% gain.
3. VIX fell 2.5%.
4. Advance Decline slightly in favour of advance in broader market and NIFTY.
Some Ideas for tomorrows session
1. Today was a typical consolidation day. Nothing much to read about for me.
2. IF NIFTY goes below 10020 tomorrow, it has not still found lower boundary of the range.
3. If NIFTY moves fast towards 10280, there could be failure of that bounce in 10300 area.
4. I assume 9900 to 10300 range for tomorrows expiry.
1. NIFTY is in consolidation. It is likely to see some downside tomorrow as well.
2. This is not a simple dip, This is likely to form range.
3. 10300 is firm resistance, any upside is possible only above that.
4. NIFTY is now searching for lower end of the range - first candidate for that is last swing low 9950.
This is view is not yet changed. I am going to assume range of 9950-10300, till it is broken on either side.
My trades today.
I did not take any trades, as none of the levels in my plan were hit, also NIFTY did not move in the direction I assumed.
Observations for the day
1. NIFTY formed the inside candle. It closed with 0.69% positive.
2. BANK NIFTY did better with 1.81% gain.
3. VIX fell 2.5%.
4. Advance Decline slightly in favour of advance in broader market and NIFTY.
Some Ideas for tomorrows session
1. Today was a typical consolidation day. Nothing much to read about for me.
2. IF NIFTY goes below 10020 tomorrow, it has not still found lower boundary of the range.
3. If NIFTY moves fast towards 10280, there could be failure of that bounce in 10300 area.
4. I assume 9900 to 10300 range for tomorrows expiry.
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