NIFTY INTRADAY for 13 Jan.20

The_RedTicker Updated   
NSE:NIFTY   Nifty 50 Index
Zones are mentioned on chart.

Newbie's takeaway:
India Vix is good, markets are giving good moves. Weekly expirys, Short coverings, Full mood Long buildups, bull traps or bear traps at just the opening are all aligning so perfectly. If one has been in the markets for say past 3-4 years and still isnt able to make money in this kind of market, well sir/ma'am, there is something particularly wrong about your understanding of even the basics of the technicals of the markets. And I believe there's nothing wrong with that, just start with kindergarten again, read books, a lot of books! (not on technical indicators, but on technicals of markets, cycles or phases of markets, the psychology behind a spinning top or behind one day's gap up opening followed by next day's gap down opening).

Long story short, You and I are rivals (that's how it is practically, right?). So, if you dont understand the game we are playing, how can you even think of a way or a method to beat me at it??

my "ONEPIECE is real!!" wala speech :p
I am always neutral on markets and just trade the zones. But today I have a view. I am not saying that US-Iran is done but the way nifty is setup right now (and if we ignore the news impact of last week) nifty was certainly going up at least momentarily. Its back in the triangle and the way my indicators are setup on daily, its for sure not the time for a top in the markets. And since the last candle made a near term high which also is lifetime high, I think we should break that tomorrow.
As long as nifty open in the triangle, in case of slight gap down I expect a bounce at the zone or at max the lower line of the triangle, I case of gapup, depending on momentum will decide whether to enter at the open itself or wait for a minor drop to some zone. I am a Buyer for now for a target of 200 point on nifty (fingers crossed that there is no news), will be entering most probably with zone rules, so sl should be accordingly.
P.s: I am not certain if ppl will be confident about going long at the beginning so hopefully will get a drop and bounce at some zone, even in case of a gapup.

Trade closed: target reached:
As explained, took a trade in banknifty. Was 16 secs late so had to buy 80 points late from the market open
Today's a different sort of day otherwise Nifty is currently short worthy, should go atleast till today's low as its giving perfect reaction on zone. Personally, I am not in mood to short, might look to buy at around current today's low of spot (12288) or at max, the Lzone (if it reaches there).
Nifty is not breaking from the zone, also its making a pole and flag where the flag is in the zone!, I was expecting around 1-1.2% move today in nifty and probably 1.5% in banknifty.

The question is, by looking at the chart right now, does nifty has enough momentum to break the flag upwards? as of now, it really doesnt look like that. LONGS dont look right, shorts can be done but half quantity and a stable sl.

The_RedTicker wont be taking any more trades today (atleast not with full quantity)


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