Expiry Day Today.
Global markets mostly down. I expected NIFTY to have ranged day because right from the start VIX was falling. I made mistake of committing to PUT sell on the lower end of range too quickly.
From the start, there were indications that NIFTY is going to have up day
SGX NIFTY and Asian Markets and DJI all up.
Then the first gap up got sold into. It was fast movement towards support. Idea was to keep buying the breakouts with limiting the risk with OTM Puts.
TCS on 15min Timeframe, reflecting a beautiful price action.
It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener.
Forming a strong double top, it reversed from there breaking...
if hdfc bank cross @910 buying will trigger @918 first target 965 second target 1000. if it's fall below this level sell short wil trigger @885 first target is 850 second target
is 800 and below.. be cautious when taking trades
Nifty initially tried to fill the gap. This attempt was failed.
Then the momentum was reversed on the downside. The 8900 Call was sold at 145 Rs for risk of 2000 Rs.
The call was later covered during the day.
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.
DOW is range bound but bullish. Asian Markets are mildly negative.
Mostly expectation is to have consolidation day.
Action : Wait to see how NIFTY is ranging in the first 30 minutes to 1 hr. SGX Nifty is mildly down.
When NIFTY broke above 8500 in first 30 Mins, then sold PUT @69 and then covered it before FM's conference.
Date : March 25, 2020 8:00 AM
Monthly : Bearish.
Highly bearish candle. For any trend reversal or consolidation to happen, NIFTY should close above 8990 first and then 9500.
Weekly : Bearish.
Formation of 7th Lower Low is being formed in the current week. Weekly momentum has not shown any signs of slowing down. Any Higher high candle will be a first bounce and...
Date : March 24, 2020 8:30 AM
Asian markets up and SGX nifty up. There is no major news, so this could be a more technical pullback.
Action : If it gaps up, sell 1 lot and cover on the gap fill. And then the idea would be to again buy gap fill and wait for profitable exit.
If there is no gap, then wait for the index to establish the range.
Look for any good...
Accumulate at low level. It will take one or two time for range trade or down side trade.
Buy zone 26800 to 27200
Stop loss 26500
current rate 27801.
Disclaimer: Buy Sell is your choice. No Recommendation.