NIfty Blueprint - June 14th 2021
Updated
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NIFTY SPOT- Blue Print for 14 -Jun-2021
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Market Structure/Trend Analysis/Chart Pattern.
l Chart Pattern - Higher High structure
l DTF Pivot Trend - Higher High Structure
l WTF Pivot Trend - Higher High Structure
l MTF Pivot trend - Higher High Structure
l DTF Price Action - Doji
Daily Pivots Analysis.
l Weekly Pivot - Pending
l Daily Pivot - Higher value Relationship - Trending day
l Pivot Width Analysis - Trending day - 0.03
l Average Daily range - Trending day - 85
l GPZ - No GPZ
Option Chain Analysis
l Open interest - 15800/15700 are major SZ and 15800/16000 are major RZ . Calls and puts both have increased at same rate.
l PCR (Contrarian) - 1.01 - Bullish
l FII Option data - Bearish
l FII Futures data - Mild negative.
l FII Stock data - Mild positive.
Summary
l HTF trend is still bullish but, there is a DOJI again which means, will need confirmation on Monday on direction. So, wait and watch before taking trade.
l Pivot analysis infers bullish bias and will be a very high probable trending day. If nifty breaks CPR then, there will be very high chances of market breaking trend and again forming lower high structure. Watch out for 15800/15750 levels for support and 15850 for key resistance zone.
l Option chain analysis also infers inconclusive bias. Since, both buyers and sellers are of same strength with very slight advantage to BEARS. WAIT & WATCH before taking trade for direction.
VERDICT
WAIT & Watch to infer direction. Market will trend but, direction is still not conclusive. Bears have slight advantage, but not with conviction and same can be determined by opening print. Personally though I AM BULLISH, carrying long positions in multiple nifty 50 stocks. ( not a recommendation)
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Step 1 - Strategies to be deployed -
l Open drive rejection
l PPT.
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA at 15790/800 levels is a long with stop of 15780 and target of 15830.
2. Any bullish PA at 15750/30 is long with stop of 15700 and target of 15800
3. Aggressive longs above 15850 only with stop of 15825 and target of 15880.
4. Any bearish PA below 15770 is a short with stop of 15790 and target of 15730
5. Any bearish PA below 15840 is a short with stop of 15860 and target of 15800.
6. Aggressive shorts below 15730 with stop of 15760 and target of 15670.
Have a nice day!!
@SacredMonkey
NIFTY SPOT- Blue Print for 14 -Jun-2021
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Market Structure/Trend Analysis/Chart Pattern.
l Chart Pattern - Higher High structure
l DTF Pivot Trend - Higher High Structure
l WTF Pivot Trend - Higher High Structure
l MTF Pivot trend - Higher High Structure
l DTF Price Action - Doji
Daily Pivots Analysis.
l Weekly Pivot - Pending
l Daily Pivot - Higher value Relationship - Trending day
l Pivot Width Analysis - Trending day - 0.03
l Average Daily range - Trending day - 85
l GPZ - No GPZ
Option Chain Analysis
l Open interest - 15800/15700 are major SZ and 15800/16000 are major RZ . Calls and puts both have increased at same rate.
l PCR (Contrarian) - 1.01 - Bullish
l FII Option data - Bearish
l FII Futures data - Mild negative.
l FII Stock data - Mild positive.
Summary
l HTF trend is still bullish but, there is a DOJI again which means, will need confirmation on Monday on direction. So, wait and watch before taking trade.
l Pivot analysis infers bullish bias and will be a very high probable trending day. If nifty breaks CPR then, there will be very high chances of market breaking trend and again forming lower high structure. Watch out for 15800/15750 levels for support and 15850 for key resistance zone.
l Option chain analysis also infers inconclusive bias. Since, both buyers and sellers are of same strength with very slight advantage to BEARS. WAIT & WATCH before taking trade for direction.
VERDICT
WAIT & Watch to infer direction. Market will trend but, direction is still not conclusive. Bears have slight advantage, but not with conviction and same can be determined by opening print. Personally though I AM BULLISH, carrying long positions in multiple nifty 50 stocks. ( not a recommendation)
**********************************************************************************
Step 1 - Strategies to be deployed -
l Open drive rejection
l PPT.
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA at 15790/800 levels is a long with stop of 15780 and target of 15830.
2. Any bullish PA at 15750/30 is long with stop of 15700 and target of 15800
3. Aggressive longs above 15850 only with stop of 15825 and target of 15880.
4. Any bearish PA below 15770 is a short with stop of 15790 and target of 15730
5. Any bearish PA below 15840 is a short with stop of 15860 and target of 15800.
6. Aggressive shorts below 15730 with stop of 15760 and target of 15670.
Have a nice day!!
@SacredMonkey
Trade closed manually
Plan 1 partially achieved. Target was missed by 7 pointsTrade closed: target reached
Plan 2 doneNote
Plan 4 doneNote
Plan 6 done
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