Since I did not explain in my yesterday post so nothing is available to compare with statements. 1. As price did not go in long covering area so those who are positional long need not to cover their positions. In this fig I deleted that area. A trendline in white and a support in same color is visible in fig. Let us discuss the importance of these two lines. 2. Since price did not take out blue line , Infact nifty took resistance here for two hrs circled in green. Showing every level is so perfect to give trading idea. Either exit or entry , every trader should use for this purpose with sl. 3. If white support is taken out with condition of 15 min then long should be covered for intraday trader. On the contrary If trend line is taken out in 15 min then positional long should be covered. Red arrow shows down move as range bound leg not trend reversal . 4.If Upper blue is taken out by gap up then pink zone upper end is target if momentum is good then can go to green line. Follow conditions if you will relax them then get ready to pay in bad trades. New followers understand difference between breach and taken out. that is must to understand any condition. so visit 14 may post in my profile and read carefully that is written in detail. "Market has friendship with my analysis". Rest price will decide. YOGESH VATS
@yvatsji sir, got 90point profit with your guidance.
Price opened gap up bove blue line,,but considering the volatility i waited till 1st candle,,and it was a high wave candle which indicates confusion, so my plan was to go long above the candle high or short below the candle low.
Priced moved anove the high and took long with SL Of first candle low.
Thanks.
yvatsji
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@Karthike_m, good reading of candle and happy to know you earned. Good to see you shared your trade with explanation for others to learn And earn.
ckirtane
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also sold 1 lot nifty 10300call at 80.4 hope some correction in nifty on Monday/Tuesday.
yvatsji
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@ckirtane, yes this is expected if upper condition is not violated.
ckirtane
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sir, gain 75 points as nifty sustained above 10100 til 9.45 then bought and sold 75 points high. my reading was correct. thanks for guidance.
yvatsji
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@ckirtane, happy to hear this.And thanks for sharing you trade with newbies.
pannkajrchopra
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Yogesh JI , Magical level of 10098 , breached ,took support 3-4 times , and zoooomed .. Thanks for the analysis .. Makes trade a lot knowledgeable and effective.. Rgds
yvatsji
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@pannkajrchopra, very nice observation. This is the game of same.
mrhariA7
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Thanks for the amazing analysis Sir. Does the pink upper and green target hold good only for intraday or coming days also?
yvatsji
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@mrhariA7, intraday as well as coming days. But with conditions mentioned in post.
Price opened gap up bove blue line,,but considering the volatility i waited till 1st candle,,and it was a high wave candle which indicates confusion, so my plan was to go long above the candle high or short below the candle low.
Priced moved anove the high and took long with SL Of first candle low.
Thanks.