As discussed yesterday, got an opening above our consolidated channel and got a clear trade till 24800.
Today's trading day was filled with heavy volatility. Saw a movement of 400+ points on both sides.
Clear no trade zones can be identified on the 5 min chart - (24800-24700) on the upside and (24350-24250) on the downside.
Scenario's for tomorrow -
Gap Up Opening - Key level to watch would be 24800 as a rally till 25100 is possible.
Flat or Gap Down Opening - Clear defined range of 24700-24350. Heavy premium decay will be done in this region.
Global Cues - Dow is again retesting it's support channel of 28100-28000 for the third time in 3 days.
Will personally be trading with a lower quantity or avoid tomorrow if a proper setup is not found.
Happy Trading!
Shubh Navratri!
Today's trading day was filled with heavy volatility. Saw a movement of 400+ points on both sides.
Clear no trade zones can be identified on the 5 min chart - (24800-24700) on the upside and (24350-24250) on the downside.
Scenario's for tomorrow -
Gap Up Opening - Key level to watch would be 24800 as a rally till 25100 is possible.
Flat or Gap Down Opening - Clear defined range of 24700-24350. Heavy premium decay will be done in this region.
Global Cues - Dow is again retesting it's support channel of 28100-28000 for the third time in 3 days.
Will personally be trading with a lower quantity or avoid tomorrow if a proper setup is not found.
Happy Trading!
Shubh Navratri!