In my post yesterday I said With today’s price action nothing changed. I need to see a clear signal to change my view, which is currently bearish consolidation. Tomorrow, if NIFTY resumes, the downtrend again back towards the bottom of the range 11110-11140, it will strengthen the view. Any close above 11320, I need to change my side. So I changed my...
Review of my weekly opinion Possibility 1 : On Monday, observe the price action in the first hour. Any gap up or break of 10250, will confirm bullish inclination and further upside possible in the 11380-11440 zone. Eventually, when and if Reliance has reached around 2300 levels and NIFTY in this zone, then I’ll enter positional short- reversal trade with SL of...
In my post dated August 6, I had said I am again expecting consolidation to a bearish day. As I said, good setup for reversal around 11280-11300. It was a consolidation day. Not bearish. ================================================================================================== My trades. I did not trade today. My Observations NIFTY closed flat...
From my August 5 update, I expected NIFTY has strong resistance at 11228. Any bounce tomorrow upto 11228, excellent shorting opportunity with clear stop. News driven action likely tomorrow. I expect consolidation to bearish movement tomorrow. NIFTY was choppy, but not necessarily bearish. The short from 11228 was a good setup, but too fast to trade as it...
In my August 3 post, I had said Today is the fourth day for the down move. When I see the reliance chart and NIFTY chart I think touch of support zone 10780-10830 is possible in tomorrow’s session. This zone is where there is a possibility of some sort of bounce. This is the first bounce after correction, so likely to fail. It is better to wait and let the...
I my weekly review post (Link below), I commented, I take consolidation with a negative bias view. The pattern target is 10860. I sense that this week, NIFTY is likely to hit that zone. I need to see if this happens with momentum. There should not be any closing above 11130, If there is any closing above this level, short bias is challenged. If NIFTY crosses...
In my yesterday’s post I had said Tomorrow, I assume a downward bias with the possibility of 11040 and 11000. I’ll see the price action around this area to decide the next steps. If this is really some sort of intermediate top, there should be a gap down and the gap will be sustained for the day. NIFTY touched 11040. The price action around this level is...
In my trade log of July 29, I commented The breakout has failed. I think NIFTY is likely to test other extremes -- retest of 11000 and 10900 initially. This may not happen tomorrow as tomorrow is an expiry day. There may be another attempt towards 11270 which needs to be watched carefully. Tomorrow I am more biased towards consolidation day. Review NIFTY is...
In my post (link below) I expressed my view Typically, such range breakouts have caused 2-3 days of rally in NIFTY in the last 2-3 months. This time we can expect something different. If it is the last leg of the up move, then NIFTY can see a sudden surge in the next 2-3 days into July 30 Expiry. If it is more like an ordinary day, there may be some...
In my post (Link below), I had said NIFTY is in the tight range of 11105 - 11220. It is really difficult to imagine the structure within this range, but considering today’s price action, I think NIFTY may break down tomorrow just a little. But there are multiple support zones from 11000-11050 where support is expected. Review: NIFTY did not break down. It was...
Intra day short opportunity on NTPC Entry: 90.35 Stop Loss: 91.25 Target: 88.55 Valid till 27th July 2020, don't carry forward the position
Intraday short opportunity on NSE:COALINDIA Entry: 133.15 SL: 134.50 Target: 130.45 Valid till 27 July 2020 Don't carry forward the position to next day
In my yesterday’s post (link below) I said Considering the recent upmove of 5 days, I think tomorrow NIFTY is likely to consolidate further in the range 11200-10950. I won't go long immediately if 11200 is broken in the early morning or open. Also for any intraday short position, NIFTY has to break 11170. Consolidation day today. NIFTY was in the range...
In my yesterdays post (link below), I had said I do not have strong bias on either side. Also it is an expiry day. I’ll watch the first few minutes of action. If there is bearish continuation, then intraday short may be a good idea. Some consolidation structure, possible retest towards 11200 is possible in next 1-2 sessions. Though it looked like a bullish...
In my yesterday’s post (Link Below) I had said 1. I’ll be trading with consolidation to bearish bias tomorrow. This view is against the trend but I think 11200-11270 is a good area to start thinking about reversal. 2. I’ll build positional shorts, not aggressively, but with generous time and price stop loss. 3. For tomorrow, if there is a gap up, I think it'll...
My July 20 Trade Log I had said (Link below) Trend is up. There is no resistance till 10269. I’ll mostly trade intraday on upside. As I mentioned in my weekly view, I’ll wait patiently till I see some signs of exhaustion. In line with my Monthly view posted in June, NIFTY is close 400 points away from challenging my monthly view. Hence I don't move fast on...
My view for this week My Trades As planned, I did a reversal trade around 11000. I was not quick enough to square it off on the first deep and made losses on the trade. My observations for the day NIFTY did not get rejected at 11000. It closed above 11000 by gaining 1.11% BANK NIFTY gained 1.62%. But It formed a doji candle + Gap opening. VIX...
In my yesterday’s post, I had said I need one more confirmation of close below 10560. This will confirm some sort of intermediate top. I am not sure about tomorrow, maybe a pause or continuation day. Overall this week has clear down bias. Any rise is selling opportunity as long as NIFTY does not close above 10820 I am still waiting for this confirmation. It...