Expiry day today. Gap up is huge and there is very little chance for me to participate any trade. Still scalped small profit. Few Observations for today: 1. Bank NIFTY initially surged but closed around Low of the day. 2. Advance and Decline ratio is not great. 3. This market surged in straight line from 9270 to 9860. This is 600 points rise in 2.5 days. 4. VIX...
Inverted H&S breakout on 15 min chart, levels on the chart. The target of breakout is approx 20090, you can safely assume if 19900 is crosses then you see BN flying 200 points in couple of mins. The setup is negated if the GREEN trend line is violated. It's better to avoid trades in the yellow zone, once the price crosses the zone take the directional...
Expiry Day today. I had sold OTM calls 9400, 9300 and 9100. This was mainly because. 1. NIFTY reversed sharply from resistance zone between 9250-9300. 2. I think the reversal was strong and made lower low on daily frame. 3. The monthly trend still remains bearish and weekly trend is sideways. No new trades today. Overall traded as per plan. 1. NIFTY reversed...
Support & Resistance on the chart, above pivot we are +ve and below -ve. Use the bigger triangle to trade, price doesn't seem to be moving out of the triangle.
This is my analysis/views for April Expiry... no IF no BUT... I feel theres only one way the market will go from here and that is UP....
if Market open above the 12200 we may expect to move up, try to form an triangle. or if it takes an support in 12150 again it will move up to resistance. When it break the support 1 and it will move to support 2
Today was another options expiration day and with it comes some interesting information about current market structure and where the smart money might be leaning going forward. While there was no 'freebie' Euro close rally into options expiration setup today (because Russian news keeps bidding price up) it was very interesting to see how 'they' closed USO out at...