What I said last week was that Nifty’s rise can continue till 16650 but I did not know what would happen next. Now the following is my analysis for the coming week:
It may seem like Nifty is going green but looking at chart from April 4th, all that Nifty has managed to do is to create a lower high. With stochastic being in overbought territory, the indicators are that Nifty should not rise further. There is a support being provided at 16400. I expect Nifty to oscillate around that level this week.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)… Consolidation - Between 16800 and 16375 Downtrend - If breach below 16375; to drop somewhere till 16075 Uptrend - If breach above 16800; to rise somewhere till 17075
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DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Trade closed manually
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The week was smooth. I simply did what my system told me to do. I also added some common sense here and there. Furthermore, I was able to capitalize on some intra-day mean reversion opportunities. All these led to a good profit. Grateful to God, Nifty and the system
Net Profit (after deducting brokerage): 39611.63 Capital deployed (approx): 20,93,014 Week’s ROI: 1.89% Total no. of weeks traded till today: 9 Average weekly return till today: 2.00%
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.