Closing Range - 19572/19805
Extended range - 19488/19889
Nifty is well placed to enter the long uptrending channel again & resume it journey towards all time high. The conviction is based on the following points from the session on 11th Oct -
-Support at 20 DMA
-Vix cooled off by 2.5%
-PCR slightly down to 1.2
-Put writer support at 19800
If something goes wrong (IT sector can be a mood spoiler), we can see Nifty come down till 19700 to fill the gap.
Possible trade: Risk reward is in favour of bulls, so plan your day accordingly.
P.S. - 0.5%-1% return on capital can be considered good in intraday.
Extended range - 19488/19889
Nifty is well placed to enter the long uptrending channel again & resume it journey towards all time high. The conviction is based on the following points from the session on 11th Oct -
-Support at 20 DMA
-Vix cooled off by 2.5%
-PCR slightly down to 1.2
-Put writer support at 19800
If something goes wrong (IT sector can be a mood spoiler), we can see Nifty come down till 19700 to fill the gap.
Possible trade: Risk reward is in favour of bulls, so plan your day accordingly.
P.S. - 0.5%-1% return on capital can be considered good in intraday.
Trade closed: target reached:
Nity remained in range 1.
Realty, FMCG, Pharma sectors are also under pressure - All these had good run up in recent past. Typical market behaviour.
Reliance & private bank index is holding on.
I shorted 19800 CE post 1st 15 min candle in morning.
Trade safe.
P.S. - 0.5%-1% return on capital can be considered good in intraday.