Yesterday the reason for first big green candle is that market open gap up and below 44000 level and sellers hold the position from 44600, 44500, 44400, 44300, 44200, 44100 and 44000 almost 70-80% premium they had taken, they book their profit but still it is not confirms that buyers were active or not. After a half session market take a dip and then buyers were active and take a market upside and closes +135 pts up from previous session (12/06/2023).
What for today??
#First try to understand that in current situation in every round figure BN taking resistance. ex- 44100, 44200, 44300, 44400, 44500, 44600. Then we have to expect small profits in range bound market 40-60 points.
Flat- If market open flat then wait for 1st small candle and 2nd candle should be follow the 1st candle and breaks the level 44144-44152 then 1st resistance should be hit 44243 approx.
But if the market open gap up and it takes retracement because market travels upside +185 points in one way then it should come till 44050- 44070 levels because yesterday buyers add their position from 44023 and 44062 levels. But if it not sustain the level 44100 and 44034 then it show a down side move upto 43960 levels.
Gap Up- In this situation 44144 levels is high resistance level but market cross it through Gap Up and opens approx. 44190 then we have to wait for price action and hold the level 44234 and then take trade for CE side if market breaks level 44257.
Gap Down- If market opens around 44050- 43960 in between then wait for hault and breaks the 1st support then target should be Support-2
#In Daily time frame- it should be Pull Back (Up side) or take a Hault for Pull Down
What for today??
#First try to understand that in current situation in every round figure BN taking resistance. ex- 44100, 44200, 44300, 44400, 44500, 44600. Then we have to expect small profits in range bound market 40-60 points.
Flat- If market open flat then wait for 1st small candle and 2nd candle should be follow the 1st candle and breaks the level 44144-44152 then 1st resistance should be hit 44243 approx.
But if the market open gap up and it takes retracement because market travels upside +185 points in one way then it should come till 44050- 44070 levels because yesterday buyers add their position from 44023 and 44062 levels. But if it not sustain the level 44100 and 44034 then it show a down side move upto 43960 levels.
Gap Up- In this situation 44144 levels is high resistance level but market cross it through Gap Up and opens approx. 44190 then we have to wait for price action and hold the level 44234 and then take trade for CE side if market breaks level 44257.
Gap Down- If market opens around 44050- 43960 in between then wait for hault and breaks the 1st support then target should be Support-2
#In Daily time frame- it should be Pull Back (Up side) or take a Hault for Pull Down
Trade closed: target reached:
#1st target reached when 5-minute 09:35 candle breaks 44034 level it gives us 40 points in one way and in option 44000PE approx. +27Rs change
CMP- 104Rs of PE and target reached and we got +27Rs, +25% ROI in single lot.
CMP- 104Rs of PE and target reached and we got +27Rs, +25% ROI in single lot.