Nifty is Bullish Confidently buy if comes below for 8th May OnlyThe entry and exit is given on the chart.
Today it was completely side wise market due to expiry.
Many may say it is bearish but for 8th May at-least it has to test the level, Why not to take that advantage?
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Cheers!!
Niftyintraday
Nifty Intraday Trading Zones
Nifty is facing a major resistance near its major supply zone @ 9850-10000. I am calling this zone as a major supply zone because on the higher time frame (weekly and monthly) this same zone will act as a major resistance (Shared Weekly and Monthly charts in the previous post).
On the downside the is a minor demand zone @ 9500-9580 then 9300-9420 and short turm major demand zone @ 8970-9000.
According to the options data, there is the highest OI in call plus Max call OI chg% @ 10000. There is the highest OI in put @ 9500. One interesting thing in data that max chg% in put OI @ 9700.
SGX nifty closed -640 point. Now as a trader my mindset is neither negative nor positive. I don't know where nifty will go. I have prepared my all-time frem charts and setup my trading plan. Now on Monday, I will act according to the trend.
As per my trade plan upside is caped and I am not expecting next week's expery above 10000. Also according to the data If Nifty will sustain below 9500 then Put writers may come to close their position from 9700 and 9500 stricks. On Monday I will take a short position in OTM call writing. I will decide on the strick price once the market will open. I will take a short position in FUT only if it will be the downside trading day and risk to reword will in favor of my trade. I will update my trades in this post. If u follow this post you will the notification.
NIFTY: Intraday Demand and Supply Zones
On the downside 8850-9100 is a short turm strong demand zone and there is a trend line support at the same level.
According to the options data 9500 is a major resistance because there is the highest open interest in call writing. On the downside highest open interest in 9000 put writing. But an interesting thing in 9000 Put, there was a heavy unwinding in 9000 put writing.
So according to the data demand-supply zones, the yellow zone will be no trade zone for me. I will trade once breakout or breakdown will confirm of this narrow range.
NIFTY: Intraday Supply and Demand Zones
On the downside there is a short term major demand zone @ 8650-8850 and the upper side resistance @ 9100 and supply zone @ 9350-9500.
According to the options data max OI in call @ 9500 and max OI chg % in call @ 9300 and max OI in put @ 8000 and max chg % in put @ 8900.
According to the options data max OI in call @ 9500 and max OI chg % in call @ 9300 and max OI in put @ 8000 and max chg % in put @ 8900.
Nifty: Ready to Travel in the new Zone
According to the Intraday chart there is a supply zone @ 9050-9110 and demand zone @ 8650-8700. According to the weekly chart, there is a demand zone @ 8800-8950. On Monday Nifty took to support it’s weekly demand zone and closed above 9000. In short, there are multiple demand zones below 9000 on intraday and as well as a weekly chart.
According to the options data Max OI in call @ 9500 and Max OI in put @ 8000. Also, Max changed % in call OI @ 10000.
According to the data and supply and demand zone Nifty is ready to travel in the new zone of 9000 to 9500 (Short range) and 9000-10000 (Long range).
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NIFTY FOR INTRADAY IN HIGHER TIME FRAME NIFTY IS IN BEARISH BT IF YOU WANT TO TAKE THE GOOD ENTRY IN NIFTY OR FOR INTRADAY
SITUATION 01: IF YELLOW LINE BREAK ABOVE SIDE ITS LOOKING TO TOUCH THE LEVEL OF 900
YOU CAN BUY NIFTY 8689
WITH PROTECIVE STOP AT 8422
TARGET 8831-9046-9200
(IF NIFTY TOUCH 9000 YOU CAN SHORT )
SITUATION 02 : IF NIFTY BREAK LEVEL OF 8422 (YELLOW LINE )
YOU CAN SELL NIFTY 8422
WITH PROTECIVE STOP LOSS 8689
TARGET 8200-8053-7831-7582-7333-7071
LESS RISK IN BOTH TRADE
Nifty: Intraday Trade Plan Hello,
Nifty closed below all its major demand zones. Now the next demand zone is 11810-11840 and the major supply zone is11880 and 11920-11940.
Nifty is oversold in a smaller time frame. In any case, if Nifty will come to 11880 and 11920-11940 but not able to sustain above this zone then this will be the fresh selling opportunity.
In Any case, NF will sustain below 11810 then 100 points downside will open.
My STBT Trade: Sold 12000 call @ 35
Trade Well
Nifty: Weekly and Intraday Analysis Nifty is making lower highs and lower low in higher time frame Nifty closed @ 12080 and there are multiple supply and demand zones in 12980-12200.
I am Bearish in Nifty but I will trade in Nifty once it will start respecting any supply and demand zone between 12980-12200 or sustaining below 11980 or 12200.
NIFTY: Intraday Trade plan for Option Selling Hello,
Finally today Nifty closed below its major demand zone @ 12085-12120. Now, 12085-12120 is a major supply zone and 11975-12000 is a major demand zone. As I mentioned in yesterday's post today, I made a short position in 12100 calls and carried this position. Future selling may not be a good juicy trade so I will make my position in option writing in the 11975-12100 range.
Nifty: Intraday Trade Plan Hello,
As I have mentioned in my Nifty Weekly Analysis post that my view is bearish in Nifty. I will change my view once Nifty will sustain above 12265-12300 this week. Find the link below.
Intraday Demand Zone: 11975-12000
Intraday Supply Zone: 12085-12120
On Monday:-
If it will sustain below 12080 then I will start short OTM call options. and Once it will sustain below 12050 then I will short future for the target of the next demand zone.
If it will sustain above 12120 then I will avoid the trade.
Trade well
Nifty: Intraday Trade PlanYesterday I was bearish but today it opened the gap up and closed near the demand zone.
Demand Zone: 12085-12115
Supply Zone: 12160-12170
Resistance: 12300
Tomorrow if it will sustain above 12170 then I may go long. I will be more confident once it will sustain above 12200, in this case, I may add more qty in the long side.
If it will sustain below 12085 then I may go short.
No trade zone: 12085-12175
Thank X
Nifty: Enjoyed Short Side Trade ?Hello,
As I have mentioned in my yesterday's Nifty Post for Intraday Trade. I have mentioned my bearish view on Nifty.
Now Nifty Supply zone @ 12085-12115 and Next Demand Zone @ 12025-12035 and 12950-12975. My view is still bearish but tomorrow expecting a wide sideways move.
Trade well