Gapfill
Mentorship InstaView 23 Aug’21: Frustrating Nifty View: A frustrating trading session for the benchmark Nifty index as it lost all of its opening gains and face high intraday volatility. The index seems to be at at crossroad wherein 16,500 acts as an important decider of momentum and sentiment. A break below today’s low of 16,390 will infuse fresh selling pressure, so stay cautious and try to trade less with strict risk management.
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Trade Well. Trade Wise.
SIYSIL Analysis | On demand of a follower :) ⭐A breakout on Month can be seen clearly if it sustains on these levels for Monday too :)
⭐Dynamic supports from 50 dema is been taken multiple times (once broken with a power candle = gap up next day above it )
⭐My calculated speculation is: a **close** above today's red candle with volume more than normal on 15min = a breakout from the pattern :), the risk gets minimal as u will exit the trade if it comes back to the triangle, then chances of manipulation increases and rewards = well if it sustains these lvls for the month than for upcoming days it might touch 362 lvls too, the time cant be predicated :)
⭐If someone takes the trade do see the Rsi too, if a close above the prev high takes place with RSI above 70 then trade will go smooth as a higher high on price with higher RSI will be made ( be careful with RSI divergence in such trades )
Nifty InstaView 20 May’21: GAP Gone. Trend Vulnerable.
Nifty View: A disappointing close for benchmark Nifty index in today’s trading session - down over 100 points to close the recent gap with which it had broken above 15K. The index is now back to the zone of (14,900-15,000) which earlier had acted as a strong zone of resistance and now we are expecting support. If this 100-point range holds, then there is a big chance of a bounce back and significantly higher upsides for the index. On the flip side, a confirmed close below 14,900 and we are back within the range of consolidation which will be marred by sharp volatility. It's been a completely stock specific market over the past two trading sessions and so strategically one should look to trade high-probability setups with a short term time frame in mind.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
IMPULSE + DOUBLE 3NIFTY HR TIME FRAME :
VIEW :
Since the end of January 2021 nifty was in uptrend and after in late mid February ;Nifty turned sideways. Recent up move showing positive market structure with "higher high"(HH) and "higher low"(HL) pivots. But these pivots are overlapping ;suggesting me to be cautious to take long position in nifty. But I still keep my bullish stance in Nifty.
Supporting Structure / Pattern /technical events :
# Impulse(motive cycle) + Double 3(corrective cycle);
# Confluence of 3 technical events suggesting a reasonable case for support in that zone where clearly mentioned in the chart.
Trading Plan:
For day traders >>
One can keep trading on the positive side as long as nifty continue to make HL-HH-HL structure till nifty continues its journey towards "KEY RESISTANCE" OR "DEMAND ZONE". But wait for breakout beyond "key resistance" to continue to trade on the positive side once nifty reaches that level.
For positional traders >>
PLAN A >>
As key invalidation point is much lower than the current price risk reward is not good at the present situation to take a long position .Even recent wave structure is not that supporting for positional opportunity. So better to go for long position as near as possible to key invalidation point if market continues its corrective cycle towards key invalidation point. One can use any confirmation methods(price action/indicator setup) to take an entry.
PLAN B >>
If nifty continues to move higher...wait for pullback after breaking above "wave x " for a low risk entry....where risk reward will be mouth watering...😍
Exit Strategy >> exit @ or near or in the target zone as shown in the chart.
Disclaimer: All the above views are being shared with the intention of sharing knowledge. Before acting on the views it is suggested to act as per one's risk appetite. Never risk more than 2% of one's capital.
BANKNIFTY | Small Cup & Handle inside the channelBANKNIFTY | Small Cup & Handle inside the channel - Looks good 1000+ points - Expecting the gap to be sealed
CMP : 35339
SL : 34950
Target : 36500
1:3+ risk reward setup
P.S : Vix is high, market is in consolidation mode so prefer to use spread.
Ex :
Buy 35500 CE
Sell 36500 CE (This would take care of the Time decay, Volatility crash of the option we buy so we dont lose entire premium)
NIFTY 50 Analysis As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly.
The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting range, I believe that the market will be looking at an expansion in the coming week/s. If the Nifty closes below the neckline (marked on the chart) this will complete the "M" pattern and will result in a downward expansion. Whereas, a closing above 15,250 will result in a continuation of the general bullish trend.
Although, I am still bullish on the Indian Markets, there is a strong chance that a downward breakout may occur.
Reasons:
- The strongest sector in the recent weeks post budget, has been the financial and Infra sector. BankNifty is stuck in the middle of the range and Friday's morning rally, did not see much follow through on the upside either.
- Large sectors like IT and Pharma have also seen a cool off and not seen much of a rally post budget either.
- Market has created a large 200 point (1.4%) gap. Gaps create space for demand in the market.
Giving due consideration to the heavy liquidity in the economy, the sentiment around the market seems to be fearful. Hence, I believe that investors are likely to book some profits and drive the market below 15,000.
If the market does give a close below 15,000, it could move towards filling the gap.
Since, the general trend remains bullish, it would not be wise to take huge short positions by putting more capital at risk.
The short trade will only be viable as long as the NIFTY CLOSES BELOW 15,000 ON THE 1 HOUR time frame. The stop loss for the view the position will then be the current high point of 15,250.
These are my personal views and I reserve the right to be wrong.
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