1st August - Nifty

Kindly note
1) Not a sebi registered analyst
2) These comments are just my thoughts on how the market is moving or will move. Use your own judgement

For now, the index has still some upside left before expiry. Don't want to predict anything, will trade as per nifty's movement.

Long above today's close, short below it - pretty simple. Targets are provided.

Live updates like today during the trading hours.

Comment:

9:15 AM

Market's opening at 19784 - 2 choices

1) there is a possibility of pull back before trending up..so wait before going long.
2) market may quickly move to 19800 levels

i would go with 1..wait for an opportunity to go long..

Comment:

9:55 AM, Nifty@19780

For now it seems it'll be a slow day, and mostly with sideways moves between 19700-19800

There is still some upside left till expiry, and futures will be helpful rather than options

Updated View

1. Long above today's opening of 19784 - if you want to play safe. Stop loss yesterday's close or anything between.
2. Short below yesterday's close. Stop loss today's open
3. Between yesterday's close & today's open - sideways

Comment:

"There is still some upside left till expiry" - I know I said this few times earlier. I've been wrong earlier. Fresh longs only above Today's open.

On the short side - first downside target achieved(from 19753 to 19728)

Comment:

1:15 PM
Nifty @ 19745

Short Nifty for a target of 19700/19696

Comment:

SL Yesterday's Close.

Comment:

15min Timeframe, stop not reached. Short valid as loong as 15 min candle doesn't close above yday's close.

1:54 PM, Nifty@19754

Comment:

3:16 PM

"For now it seems it'll be a slow day, and mostly with sideways moves between 19700-19800 " - This is what I mentioned at 9:55 AM today.