Exhaustion of up move evident in monthly chart as shown below:
Resistance recently at 2415 in Day TF,
Shooting Star on Friday with high near to 20 day mean,
Enter short on PDL break,
If EOD close is below 2337, possible targets are as follows:
T1:2262
T2:2166
SL: Close above 2439 (CBSL)
Nifty is currently trading above the pullback rally on stoploss hunting zone.
if it closes above 10960 on a weekly chart then the bull can continue if it closes below then we can see another blood bath in coming days
Having gone past 200, I expect a slightly gap up opening tomorrow (around 201-202)
Let it stabilise:
202 is the next resistance so watch for it to close above 202 (you will need to scroll to the left to see why)
Above 202, if it sustains and if BankNifty sustains above 23000 - We should get nearer to 207
As for why please refer the linked idea.
Current position is SELL sold on 10 JULY 2020. @ 10781.57
for July 11 2020 Continue to hold SHORT and reverse to BUY if NIFTY closes above 10835.71
Profit as of now 9 points
NSE:NIFTY
Last 3 position performance
1. BUY : With a profit of 386 points (1st July to 8th July 2020).
2. SELL: Loss of 54 points (8th JULY to 9th July).
3. BUY : Profit of 38 Points...
SBIN
CMP 201
Observation
- the stock is having support around 192 levels
- resistance is seen around 218-220 levels
Given the setup one may consider Short strangle strategy for SBIN
Consider selling SBIN 30 July expiry
220 Call Option between 4.5 - 5 ( CMP 4.5)
& also
185 Put Option between 4 - 4.5 ( CMP 4)
Lot size 3000
Profit potential Rs 25500/ - ...
Buy above 23125 for 50,120,200+++
Sell below 22650 for 50,120,200+++
Any query on chart, can comment or ping me.
*All views for Educational purpose, Trade at your own risk
Buy above 2225 for 10,25,50+++
Sell below 2195 for 10,25,50+++
Any query on chart, can comment or ping me.
*All views for Educational purpose, Trade at your own risk
Buy above 3360 for 15,40,70+++
Sell below 3305 for 15,40,70+++
Any query on chart, can comment or ping.
*All views for Educational purpose, Trade at your own risk
Ascending triangle formed in chart....
Buy above 1815 for 10,25,50+++
Sell below 1785 for 10,25,50+++
All views for Educational purpose, Trade at your own risk
Buy above 3210 for 15,40,70+++
Sell below 3160 for 15,40,70+++
Any query on chart, can comment or ping me.
*All views for Educational purpose, Trade at your own risk
Buy above 560 for 5,12,25+++
Sell below 535 for 5,12,25+++
Any query on chart, can comment or ping me.
*All views for Educational purpose, Trade at your own risk
Bearish engulfing near at trend line...
Buy above 1125 for 8,20,50+++
Sell below 1100 for 8,20,50+++
Any query on chart, can comment or ping.
*All views for Educational purpose, Trade at your own risk
