Nifty 50 IndexEducation
NIFTY INDEX VIEW FOR THE MONTH
Updated
NOTE:-
Traders,viewers and other analyst are free to express their opinion and suggestions regarding this article.
View on the Index
*So a break above 10930 on closing basis shall confirm the uptrend towards 11080.
*If i am wrong then we shall use the upward sloping trendline as to exit the trade.
Reasons for a upside breakout
*Note that i had given a long trade on banknifty on thursday on the basis of crucial support nearing and the
"GOLDEN CROSS".
*10700 nifty put option has seen great amount of put writing and call unwinding.
*Although 10800 call option has seen some writing but the initial opening of the index above 10830 shall
spook them.
*That will be confirmed once market sustains above 10774-10830 for inital hour that will lead to some
serious short covering.
*If you notice the small picture you can see a clear trend emerging for e.g the 20-dma is about to cross the
200-dma but the bigger picture is where the 50-dma is evenutally rising and will finally cross the 200-dma in
fews days time(15-20 days period) giving as a "Golden Cross".
*Shorts might get trap,Symmetrical triangle breakout can be expected on the upside and moving averages
showing us a picture.
PLEASE NOTE
"I MIGHT BE WRONG TRADE WITH YOUR OWN DISCRETION WITH STRICT STOPLOSSES"
Traders,viewers and other analyst are free to express their opinion and suggestions regarding this article.
View on the Index
*So a break above 10930 on closing basis shall confirm the uptrend towards 11080.
*If i am wrong then we shall use the upward sloping trendline as to exit the trade.
Reasons for a upside breakout
*Note that i had given a long trade on banknifty on thursday on the basis of crucial support nearing and the
"GOLDEN CROSS".
*10700 nifty put option has seen great amount of put writing and call unwinding.
*Although 10800 call option has seen some writing but the initial opening of the index above 10830 shall
spook them.
*That will be confirmed once market sustains above 10774-10830 for inital hour that will lead to some
serious short covering.
*If you notice the small picture you can see a clear trend emerging for e.g the 20-dma is about to cross the
200-dma but the bigger picture is where the 50-dma is evenutally rising and will finally cross the 200-dma in
fews days time(15-20 days period) giving as a "Golden Cross".
*Shorts might get trap,Symmetrical triangle breakout can be expected on the upside and moving averages
showing us a picture.
PLEASE NOTE
"I MIGHT BE WRONG TRADE WITH YOUR OWN DISCRETION WITH STRICT STOPLOSSES"
Trade active
One can create longs with stop below 10725as expected index will move between 10774-10830
If these levels are sustained in inital hours we will see a breakout above 10845
Target for the longs positions are 10930-10980-11035-11080
Note levels are according to cash levels
please adjust for futures and options
Note
Added fresh longs with the above given stop please note markets are volatile trade with caution
Note
Please hold your longs with the above given stop "One can add new longs once the market crosses 10830 on closing basis"
Note
!!INCREASE YOUR STOPLOSSES T 10825!!!!EXIT IF BREACHES THE LEVEL!!
!!NIFTY CAN BREAK THE LEVELS OF 10930 THIS WEEK!!
!!PATTERN BREAKOUT NEAR!!
Note
!!EXIT TRADE VOLATILE MARKETS!!!!WE EXITED WITH A STOP OF 10825!!
!!NOW WE WAIT AND SEE IF IT BREACHES 10725 IF NOT WE ARE ADDING LONGS BEFORE CLOSE!!
Note
DID NOT BREAK BELOW 10725 ADDITIONALLY DID NIFTY AND BANKNIFTY GIVE A FALSE BREAKOUT ON THE DOWNSIDE??????WAS THERE A TRAP!!
TRADERSMOJO TELEGRAM CHANNEL
*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.