Swapilchoksi

NIFTY: Don’t Try To Predict the Stock Market

NSE:NIFTY   Nifty 50 Index
Why I have mentioned that "Don’t try to predict the stock market" because last week I have updated my Nifty Weekly Post on Saturday and SGX Nifty was down by approx more then 100 points. But my trading setup was saying different story. I posted "Nifty: very less probability to break or sustain below 10000" and finally Nifty closed on the week's high.

Nifty this week trading setup is:-

10480 - 10680 (MULTIPAL DEMAND AND SUPPLY ZONE )
10270-10310 (MULTIPAL DEMAND AND SUPPLY ZONES)


1. I don't think so Nifty will trade or sustain above 10700 because there are multiple very strong supply zones. So I have a current short position
in 10700 call @ 60 (Updated this Trade in last week's Nifty post.). In any case if it will sustain above 10700 then I will close my current short
position and will take a long position. In this case I will update next levels in this post.
2. On the upside there is a very strong supply zone @ 10640-10680 and On the downside there is a demand zone @ 10480-10530. So 10480 to 10680
will be no trade zone. It's difficult to get the follow through on the both side in this zone and it will be a choppy market in this wide trading
zone.
3. If Nifty will sustain below 10480 then it may test next demand zone @ 10240-10310. In this case I may add more short position in Nifty .


Still my setup is not allowing me to think for the 9000-8000-7000-5000 etc. levels in Nifty in coming days or weeks. So I will respect the screen, price and trend instead of doing prediction.

Thank X :)--- Have a gr8 Weekend ---
Trade active: Open Position: Sold 10700 Call @ 60 --- Shared this Trade in pervious week Nifty Post.
Comment: 𝑵𝒊𝒇𝒕𝒚 𝒘𝒊𝒍𝒍 𝒐𝒑𝒆𝒏 𝒈𝒂𝒑𝒖𝒑 𝒕𝒐𝒅𝒂𝒚 𝒂𝒏𝒅 𝒊𝒕 𝒎𝒂𝒚 𝒕𝒆𝒔𝒕 𝒊𝒕𝒔 𝒎𝒂𝒋𝒐𝒓 𝒔𝒖𝒑𝒑𝒍𝒚 @ 10700 𝒊𝒏 𝒕𝒉𝒆 𝒇𝒊𝒓𝒔𝒕 𝒉𝒂𝒍𝒇. 𝑺𝒉𝒐𝒓𝒕 𝒑𝒐𝒔𝒊𝒕𝒊𝒐𝒏 𝒊𝒏 10700 𝑪𝒂𝒍𝒍 𝒊𝒔 𝒔𝒂𝒇𝒆 𝒕𝒊𝒍𝒍 10750 𝒃𝒖𝒕 𝒊𝒏 𝒂𝒏𝒚 𝒄𝒂𝒔𝒆 𝒊𝒇 𝑵𝒊𝒇𝒕𝒚 𝒘𝒊𝒍𝒍 𝒔𝒖𝒔𝒕𝒂𝒊𝒏 𝒂𝒃𝒐𝒗𝒆 10700 𝒕𝒉𝒆𝒏 𝑰 𝒘𝒊𝒍𝒍 𝒄𝒍𝒐𝒔𝒆𝒅 𝒕𝒉𝒊𝒔 𝒑𝒐𝒔𝒊𝒕𝒊𝒐𝒏 𝒃𝒆𝒄𝒂𝒖𝒔𝒆 𝒂𝒃𝒐𝒗𝒆 10700 𝑵𝒊𝒇𝒕𝒚 𝒎𝒂𝒚 𝒈𝒊𝒗𝒆 𝒃𝒊𝒈 𝒖𝒑𝒎𝒐𝒗𝒆 10800 𝒂𝒏𝒅 𝒂𝒃𝒐𝒗𝒆 11000.
Trade closed: stop reached: Exɪᴛ @ 90 ...
Trade active: Sᴏʟᴅ Nɪғᴛʏ 10500 PUT @ 33
Comment: 𝑰𝒇 𝑵𝒊𝒇𝒕𝒚 𝒘𝒊𝒍𝒍 𝑺𝒖𝒔𝒕𝒂𝒊𝒏 𝑨𝒃𝒐𝒗𝒆 10750 𝒇𝒐𝒓 𝒏𝒆𝒙𝒕 30 𝒎𝒊𝒏𝒔 𝒕𝒉𝒆𝒏 𝒎𝒚 𝑷𝒐𝒔𝒊𝒕𝒊𝒐𝒏𝒂𝒍 𝑻𝒂𝒓𝒈𝒆𝒕 𝒊𝒔 10900
Trade active: Bᴏᴜɢʜᴛ Nɪғᴛʏ @ 10755 SL 10690 Tɢ: 10900. Sᴘᴏᴛ Pʀɪᴄᴇ.I ᴍᴀʏ ᴄʜᴀɴɢᴇ ᴍʏ SᴛᴏᴘLᴏss Lᴀᴛᴇʀ.
Comment: 𝑪𝒂𝒓𝒓𝒚 𝑷𝒐𝒔𝒊𝒕𝒊𝒐𝒏𝒔: 𝑺𝒉𝒐𝒓𝒕 10500 𝑷𝑼𝑻 @ 30 𝑪𝒍𝒐𝒔𝒆𝒅 @ 15. 𝑵𝑭 𝑭𝒖𝒕 𝑩𝒐𝒖𝒈𝒉𝒕 @ 10755
Comment: 𝑵𝒐𝒘 𝑺𝒕𝒓𝒐𝒏𝒈 𝒔𝒖𝒑𝒑𝒐𝒓𝒕 @10680 𝒂𝒏𝒅 10745. 𝑻𝒐𝒅𝒂𝒚 𝑵𝒊𝒇𝒕𝒚 𝒄𝒍𝒐𝒔𝒆𝒅 𝒂𝒃𝒐𝒗𝒆 𝒕𝒉𝒆𝒔𝒆 𝒍𝒆𝒗𝒆𝒍𝒔 𝒂𝒏𝒅 𝒎𝒚 𝒏𝒆𝒙𝒕 𝒕𝒂𝒓𝒈𝒆𝒕 𝒊𝒔 10900-10930.
Trade closed manually: Booked Full profit in NF Fut @ 10780
Comment: CMP 10715. 𝑰𝒇 𝑵𝒊𝒇𝒕𝒚 𝒘𝒊𝒍𝒍 𝒔𝒖𝒔𝒕𝒂𝒊𝒏 𝒃𝒆𝒍𝒐𝒘 10680 𝒕𝒉𝒆𝒏 𝒐𝒏𝒍𝒚 𝒕𝒉𝒊𝒏𝒌 𝒇𝒐𝒓 𝒂 𝒔𝒉𝒐𝒓𝒕 𝒑𝒐𝒔𝒊𝒕𝒊𝒐𝒏 𝒐𝒕𝒉𝒆𝒓𝒘𝒊𝒔𝒆 𝒘𝒐𝒏𝒕 𝒈𝒆𝒕 𝒂 𝒇𝒐𝒍𝒍𝒐𝒘 𝒕𝒉𝒓𝒐𝒖𝒈𝒉 𝒊𝒏 𝒔𝒉𝒐𝒓𝒕 𝒑𝒐𝒔𝒊𝒕𝒊𝒐𝒏.
Trade closed: target reached: Nɪғᴛʏ 10500 ᴘᴜᴛ @ ɴᴏᴡ 0. Sᴏʟᴅ @ 30...Tᴀʀɢᴇᴛ ᴅᴏɴᴇ...Exɪᴛ ғʀᴏᴍ ᴛʜɪs ᴘᴏsɪᴛɪᴏɴ...Mᴀᴅᴇ 30 ᴘᴏɪɴᴛ ʟᴏss ᴏɴ ᴍᴏɴᴅᴀʏ ɪɴ 10700 ᴄᴀʟʟ...ᴛʜɪs ʟᴏss ɪs 100% ᴄᴏᴠᴇʀᴇᴅ .

Comments

Thanks
Reply
@bhamve, welcome as always :)
Reply
And moon phase indicates reveals
Reply
Very good analysis
Reply
Swapilchoksi sanubez23
@sanubez23, thank x :)
Reply
my open position sold 10600ce at 115 sold 10400pe at 104 trying to earn max profit.(9jul) nifty likely to expire near 10550.this my weekly expiry analysis.
Reply
@ckirtane, Hope u will make money. Gud luck
Reply
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