#Gold Short ( 01 Aug)
Gap down, RSI divergence
Sell at CMP- 51380
Target- 51185, 51060
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Good uptrend can have runaway gaps caused by significant news events that cause new interest in the stock. There is a significant increase in volume during and after the runaway gap.
Recent Events - Tata AGM 2022
This Gaps formed near or the end of good uptrend. Identified by high volume with a large price difference between...
I compared nifty hiekinashi chart with simple candlestick chart...i found that when LH-LL made then it is a possible of gap down position & when HL-LH made then it's position of gap Up position also noted that it is above Supertrend indicator or below
NIFTY in consolidation after hitting high near channel top 18115
down side 17700---17800 is the support zone based on following analysis:
20 ema : 17750
critical trend line (white) support near 17740
gap to fill support : 17688
note : LRHR (Low risk high reward opportunity ) will be finding selling opportunity near channel top
and finding buy on dip...
On Intraday terms Nifty is Moderately Bullish for 02/03/2022. As there are multiple support levels for nifty to hold the downside, 16720 - 16660 will work as an area of support for the day while on the upside price might see resistance at 16920-16950 zone if that gets clear out than possibility of seeing 17050 is high on intraday basis. Also there is a possibility...
What an expiry today, with interest rate fear taking nifty down. Look at the chart. There was a huge gap between the opening and the consolidation. Looking at the nifty 5 minute chart, there is a strong upward trend, supporting 50 EMA. Every time the Nifty is at the 50EMA, good buying activity. At one point, it indicated that it was about to cross the 18000...
In morning when Nifty was trading well above 17600, this is what we had posted...
We warned about possible downside based on simple understanding of Gaps... We did not get carried away with the positive momentum but simply went with what Technical Analysis indicated us. And boy oh boy... it did not disappoint us at all...😀
It gave us clarity to book...
In our previous post we had indicated a bullish stance based on the chart set up....
Accordingly we had shorted Nifty 17000 Put option for 30 Dec expiry around 100.
Today we see Nifty opening with a big gap up and that chart set up analysis did helped us. We have duly booked profits in our trade.
The current set up makes us feel... It's time to be...
After a long fall in metals , they are recovering fast!
Tatasteel has 2.80 percent gap made when it faced a big gap down. This gap can be exploited and easy profits can be made as the gap will surely be filled.
T1 is the main target in the trade and other targets can only be chased if the stock gives closing above T1 .
In my previous post, it was mentioned that reduction in Open Interest does not augur well for Nifty's march towards 16K to continue.
Profit booking was suggested accordingly without any bias expectations but based on study.
Also for momentum play, a better strategy would be to wait for a gap zone to be taken out: either the resistance gap or support...
In my previous post when Nifty was at 15638 we had given a positive trading strategy
and that was to Consider to sell 26 Aug expiry 15400 Put option around 150
However at current levels, there is no clarity once again.
Why am I saying this?
Usually when price increases, Open Interest in Futures should also increase. However, it was observed that the rise...