Buy Infy at CMP 718 - 719, T: 739, SL: 702.20Buy Infosys at CMP: 718 - 719, T: 739, SL: 702.20
Infosys has formed bullish FLAG pattern in 30 min chart. Breakout above the flag pattern will give a target of 739 levels.
Positional target is 745 & 774 levels as per daily charts with a strict SL of 702.20
CALL
Trade Log NIFTY April 28NSE:NIFTY is making overlapping moves. Idea is to stay patient and wait for breakout.
From current price action, NIFTY is all set to break out of 9400 tomorrow. I have sold calls, which will be in loss. But considering the market is consolidating, I am willing to take the risk of keeping those calls.
Trade Log NIFTY April 27NSE:NIFTY opened gap up today. But it could not keep above last high of 9340 for the day. So this is still consolidation range. Till it breaks out this range , it may be safe to hold these positions. Now, because of sold puts, I have high risk of gap down opening. But from price action for last few days, I'm carrying these positions.
As discussed in weekly view ,I'll look to exit these position when there is possibility of a trending move.
Trade Log NIFTY April 13Today was very tight consolidation day. NIFTY moved around 9000.
1. This was mostly expected as some markets are closed and many markets coming from long weekend.
2. Looking at the initial selling , I sold CALLs and then squared of for marginal profit.
These kind of days are difficult to trade, but I was lucky to manage small profit.
Trade Log NIFTY April 9Good Day Today for me. Mostly traded as per plan.
NIFTY is still in the large range of 8050 to 9150. But now, the breakout may have happened above 9050. Idea was to ride 8500 and 9200 OTM options. Then when NIFTY consolidated above 9000, I sold credit spread, which again turned out well as NIFTY expired above 9000.
Nifty Short Idea: Everything Explained in the chartthis is my view on nifty for next week.
below EMA 50 and the 8500 support that we have if it breaks 7100 is the target for me .
follow the chart for all the price action .
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Trade Log NIFTY Intraday Before Market opens
1. US Markets were up 6%
2. All Asian markets up
3. First Large Gap up above resistance and previous high.
This was a chance trade with high risk. Because if this gap holds during the day, then it becomes turning point for the market as it eats up many shorts aggressively.
Closed the trade with loss as the gap did not hold.
Pockets are Full of $$$$. Will Blood Bath in Gold for Bulls Over
As per the previous updates on the blog & other social media that Gold will soon HIT $1285. Today trading at $1285, So further in this week. If closes below $1275 Then the further move will towards $1257 & $1244. So, For Bears Today is a Good day to book there shorts with $60 points & sit relax for a new entry. For Bulls they can put the stop loss of closing below $1275 for their long position.
Utsav Babbar