Error : 404 ?
I have used Lifetime high & low to identify two zones: Bullish & bearish zone.
THE CHART
-> Lifetime high + Lifetime low / 2 = Rs 404 (markerd with redline)
-> Higher & Lower piviots are market for actual stoploss & trailing stoploss
Observations:
-> RSI is at 60 level indicating bullish as well as a point of resistance.
-> MACD has a positive crossover & Divergence is increasing.
-> Price channel is positive.
-> Bullish Strength candle are marked
Delivery
30 April 2020: 17.41%
-> Low delivery suggesting a speculative move.
Option Chain
MAY 2020
-> Significant call writing at 450 & 500 (Resistance in price action as well )
-> Significant put writing at 400 (404 baseline)
Conclusion
While Nifty may see some recovery we should try to initiate a long position in quality stocks.
CMP: 410
Target 1: 445
Target 2: 480
Stop loss: 391
THE CHART
-> Lifetime high + Lifetime low / 2 = Rs 404 (markerd with redline)
-> Higher & Lower piviots are market for actual stoploss & trailing stoploss
Observations:
-> RSI is at 60 level indicating bullish as well as a point of resistance.
-> MACD has a positive crossover & Divergence is increasing.
-> Price channel is positive.
-> Bullish Strength candle are marked
Delivery
30 April 2020: 17.41%
-> Low delivery suggesting a speculative move.
Option Chain
MAY 2020
-> Significant call writing at 450 & 500 (Resistance in price action as well )
-> Significant put writing at 400 (404 baseline)
Conclusion
While Nifty may see some recovery we should try to initiate a long position in quality stocks.
CMP: 410
Target 1: 445
Target 2: 480
Stop loss: 391
Note
Do check the direction & strength of the overall market.Order cancelled
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.