In sync with my weekly view posted *************** Possibilities next week 1) BANK NIFTY starts performing in coming two sessions very strongly and NIFTY rushes to 10800-10900 levels. VIX further drops around 22-23 levels. 2) NIFTY fizzles out the rally and drops back or consolidates. Now for trading action, I do not think this is a good enough reading....
In my yesterday's post I had said 1. NIFTY broke out above 10400, but faced resistance at 10440. 10440 is strong resistance. So tomorrow, strong candle above 10440 is required to confirm this breakout. Breadth is not supportive for the breakout. 2. Tomorrow, I'll wait to see if breakout gets confirmed. Tomorrow is weekly expiry. Considering consolidation,...
Review of June 30 Trade Log 1. As i have said in my weekly view, I am more on bearish side and I think this consolidation will result in break of 10240. 2. I'll short on break of 10240. My bearish bias is wrong if NIFTY closes above 10420. I was wrong to assume the breakout is on downside. NIFTY broke out of the range on upside....
My monthly View My last week's review My reading last week was I am sure about (~80%) 1. NIFTY to touch above 10300. 2. NIFTY is likely to face strong resistance in the 10300-10600 region. 3. The top end of the range I estimate is 10600-10700 for this week. I somewhat assume (~60%) 4. Less and less volatile as the week progresses. 5. Another...
In my trade review post I had said, 1. NIFTY consolidated after the fall. To assess, if the fall on Wednesday was corrective or start of a new swing, I need to wait till Friday. 2. Friday, if NIFTY continues downwards journey, It may quickly succumb to pressure and move towards 10050 area soon. Closing above 10390 again, will confirm the consolidation. 3....
I'll review what I anticipated in my post yesterday 1. Today's price action can be a swing high formation. We need to wait till Friday EOD to confirm. 2. Overall now I assume the trend is consolidation with bearish bias. 10500-10600 is significant resistance, even if gets retested, it will be hard to break it quickly. 3. Tomorrow, being expiry, I dont have...
In my yesterday's update, I had said 1. I still think, crossing 10540-10580 is not easy. If with strong sentiment, there is gap up and it gets crossed, it'll be difficult to sustain above that without some retracement in the coming days. 2. For brave traders, there is good reversal trade around 10580 with SL 10700. To be done with options for next months...
In my post yesterday (link below), I had said, 1. NIFTY may face consolidation, but brief consolidation in the current zone - 10380-10280. 2. Even it goes little below but stays above 10060, the view remains intact. 3. 10380 does not look like a top. In next attempt, this will be taken out and NIFTY may move towards 10500. 4. Overall, as I discussed in my...
In my June 17 post , I had said 1. This is more looking like consolidation of upswing which happened from 8800. Since context swing is up, we have to assume the breakout is more likely on upside. 2. Again 10000 is the level, break of which can start this up move. This can happen tomorrow or Friday. 3. I plan to trade with positive bias and avoid creating short...
In my yesterdays post, I had said 1) Considering the volatile moves for last 3 sessions, I think we may have relatively calm market for next two sessions. 2) I maintain my bias , consolidation with little bullishness. 3) The current situation is NIFTY has formed support around 9600-9700 region. And it has multiple resistances from 10000-10300. The move from...
Nifty will face strong resistance around R2 or from S2...once it reverses from these levels, THE BEST entry to short / long .....for the targets shown as red rectangle...
I had posted my weekly view yesterday 1. The touch of 9730 has happened today. 2. NIFTY has closed 1st time below 9824-9843, an important level which I watch closely. My trades today 1. Once again simple trade worked. I sold 9800 CALL when opening range was broken out and then covered it on first sign of weakness. 2. As mentioned in weekly update, I have...
Possible long and short entries for Nifty spot shown...Please use respective values for future levels
I posted this view yesterday, June 11 1. I'll continue to assume this is consolidation and any close below 9843 will create doubts in my mind. 2. At the same time, I think, the lower end of the range is close or discovered. And NIFTY now should make attempt again towards 10200. 3. I'll wait to see action on Friday and Monday to see if NIFTY goes and takes out...
In my Trade log yesterday, I blogged 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. The range...
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...
In my trade log for Yesterday, I had said 1. NIFTY has started consolidation. I am going to assume consolidation at least tomorrow morning session till noon. 2. In this consolidation, there are two possibilities - 1. Simple dip 2. Formation of range couple of days. To understand and confirm one of these we need conclusive break of last breakout level...