13 Sep ’23 Post Mortem on Nifty - Cautiously BullishNifty Analysis
Recap from yesterday: “I wish to just wait and watch for tomorrow and not get into an aggressive long position until Nifty50 has consolidated at the current levels. I wish to modify my stance to neutral from bullish. If we break the 19870 levels tomorrow — I wish to go short (bearish).” . I did not get into any new long position in Nifty, in fact I rolled up the PE to 19900 from 19800.
The rally momentum is not lost, its just that we had a blip yesterday. Seems like Moneycontrol got the reason for the huge cut on Midcaps and Small caps yesterday - Talk of basket selling by European financial services firm fuels meltdown in mid, small-caps
Nifty50 rallied 0.7% ~ 139pts vs Midcap +0.12% & SmallCap +1.02%. Has some money rotated and re-entered the large caps? The reason I did not go long today - The swing high of 20110 still not taken out. Meanwhile its still a win for the bulls as the final close is above 20000 levels.
On the 1hr chart Nifty50 is looking all the more positive and raring to go. I too wish to go long with downside protection via PUTS. The swings in options prices were crazy and the volume of put writing was intense suggesting more traders are betting on the bullish side. I expect the expiry to be above 19989 if we still have the bullish sentiment. I wish to stay 50% neutral and 50% bullish for tomorrow and would like to go 100% bullish once the swing high of 20110 is taken out.
Nifty-chart
NIFTY ANALYSIS WITH NEO WAVE, VIX & STRATEGY FOR OPTION WRITTER.Note: As per trendline & NEO wave theory Nifty to be touched 19200-19230 level. because of wave "a" in progress and when wave a will be completed than wave b to be started which to be came at lower trend line 19872 level.
So, Option writer can sell from upper lavel
Strategy:
Sell 19300 CE
Buy 19400 CE
Sell 18800 PE
Buy 18700 PE
This is only for educational prupose
Very Impoetant: VIX is reached very low appx-09. so to be causious because whenever VIX is below 10 that case market may reverse foe short term
Channel with NEO wave theory
Nifty FuturesNifty Futures
Looks like a bullish flag was made and Nifty did attempt to break it yesterday itself. Let's see where we open today but I think the bull rally should be back very soon.
There is a good support at 17274.50 level so the stoploss should be 17250 closing basis.
Long traders should keep the targets open as the nifty still has steam and we may see 17650 / 17750 levels soon.
Bank Nifty (May FUT) Some Important Levels for Intraday 12th MAYBank nifty some important levels marked on the chart supply/demand, Previous Day high/Low, Swing High/Low, Turning point , Gap, Virgin CPR Support/resistance, Use this for Intraday Trading,
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WIPRO on 15 min chartSame analysis for Wipro again. If we look at the end of the day, we can see bear in control but that trendline support is too strong. Wipro can give reversal signs from support and if open up with gap down, I have put a trend line that can act as future support based on price action. Trade safe.
NIFTY LONG I hope you can now see how NIFTY represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Example presented in these chart is for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Wave-Projetion on NIFTY for "Swing Traders"...!
50% retraced 4th wave - 8957
61.8% retrace 4th wave - 8741
Wave 1 and 2, both connected parallel chance for finding 4rth wave. Intraday support 9100 nearby.
Short Sellers: first target 8965-8935 after breaking down the channel.
Next long position Trade Setup have two option :-
Buy 8957nearby with minor stop-loss and,
Last buy 8741 with stop loss 8700.
Actually I don't prefer to give both side trading levels, but above all levels are my planned to read and I am going to disclose with you. I will update if I take a position at any of the above plans.
Note: minor channel is not varified, its only random prediction.