MONTHLY STRADDLE IN NIFTY FOR OCTOBER Hi there,
Nifty Closing today 29/09/2022 : 16818 spot
Since last 3 weeks if we observe Nifty movement there is lot of selling pressure.
From the recent high of 18096 levels Nifty has declined almost 7.5%.
In the chart if you observe I have drawn a primary wave .It looks like we are in the wave 2 of that Elliott wave.
wave 2 will be mostly 3-3-3 or 5-3-5 corrective wave.
In this WXY corrective wave W is 0.318 Fib retracement of wave 1.So there is higher probability that we will find some support in this area.
X point is 0.618 Fib retracement of wave W
Considering the recent aggressive selling those who missed the bus will short the market again or take fresh positions when the retracement wave happens.
SO WHY MONTHLY STRADDLE?
There will be 4 weekly candles in the October series.
So even this weeks candle engulfs the latest red candle by oct 6 expiry or after that expiry market will be facing resistance at X area.
If people start shorting the market fresh then high chance that market will go to Y area to complete the correction wave .
In this process mostly after 3 weeks we can see the market in these levels again with most of the price decay.
What if Nifty breaks W area this week without taking support there ?
Then the retracement is inevitable in coming weeks and 2 or 3rd week again nifty will be in the anticipated area.
Straddle breakeven should be above X and near Y
16750 STRADDLE will do the work.
By calculating the percentage return one can safely exit the straddle there.
Nifty monthly straddle has almost 30% ROI.
Even 10% in 15 days is a better deal.
Avoid If you don't know about straddle management
I hope this analysis will help you.
If you agree with my analysis you can comment on this post by yes or give a boost
Thank you. And happy trading.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
Nse
Last opportunity for Nifty reversalNifty is in the Golden Fib zone.
If any expiry day reversal this will be good time
Conditions :
Nifty should form a low here in and around golden zone
It should give closing above 16945.
After that If it give a pull back then we can enter with day low as SL
No trade if the conditions not met.
If all conditions are met
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
ITC- SHORT positionITC after long support of 20DMA now closed a candle below 20DMA in the 1-day chart. On the lower side, we can see a trendline breakdown too and 50 DMA is our next TARGET.
Also, 10DMA crossed the 20DMA in the 1-day chart now we can trade for short up to lower support line.
The evening star candle was formed, showing a downtrend later on a Doji and a gap down confirmed the downward momentum of the stock.
Buying Opportunity in BNF All the rules and conditions explained in previous Nifty idea.
Same logic applies here also.
If today's low is defended this will be a jackpot trade
All the details are mentioned below
Entry:38015 Don't have a feeling of FOMO. No need to compromise. We can always find entry points.
SL :37820
Lets see If we can secure this trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Profit booking rally in Nifty Since the last 1D green candle close our market is down by almost 4.5%
Those who shorted the market heavily will start booking profits if the market start going up.
Because of this reason I'm expecting a positive day and close today.
Even the recent idea Elliott waves suggesting a retracement.
All the details are mentioned below
Entry:16930-16950 Depending on your risk per lot. Don't have a feeling of FOMO. No need to compromise. We can always find entry points.
SL :16880
Lets see If we can secure this trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
INTRADAY buying opportunity in NIFTY I have attached my actual idea link here
Going by that setup we can plan for intraday buying opportunity
Entry:17040
SL :16970
Its a little bit big SL per lot If i have to say roughly 35 rs per lot for ATM call option.
Lets see If we can secure this trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
My Nifty Overview //Nifty Trend Analysis //ELLIOTT WAVE ANALYSISLook at the bigger picture.
It might be a 5-3-5 corrective pattern(ABC) or 3-3-3 corrective pattern (WXY).
If Nifty crosses 17135 recent swing high then it will be a buying opportunity in intraday basis. Targets of 17330
If Nifty crosses 16997 recent swing low then it will be a selling opportunity in intraday basis. Targets of 16800
Please do not take a trade just after the breakout wait for the price to reach its demand zone (for upside) to go long &
wait for the price to reach its supply zone (for downside) to go short.
This will ensure stop loss will be less and reward will be more.
Nifty may bounce back in intradayAll Levels are in the chart.
If the low is protected Price will reach its day high in intraday.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
Why am I bearish on IndusTowerHey, check out the trade setup for Industower
All 3 parameters are matched for a short trade.
Trade setup in Futures
Short : 193.10
Stoploss : 201
Target : 170 and 163
Options Trade
Bear Spread
Buy 29Sep2022 195PE
Sell 29Sep2022 190PE
Max. Profit: ₹ +7,280
Max. Loss: ₹ -6,720
WIPRO 19SEP2022Wipro from past days taking the support of level 400 and jumps back to make a bull run but from the past days it makes the DESCENDING TRIANGLE PATTERN which is a bearish
pattern
SELL
SELLING below the level of 400 can lead it up to 380--350 level on the lower side.
BUY
Buying is gonna be risky from this point but taking support of level 400 can push it to the rejection trendline.
ROUTE MOBILE 19 SEP 2022As the INDIAN IT showed some bearishness in the last two trading days so as per that and as per BRITISH inflation data most of the IT sector also we can see through the US data countries are starting to go into a recession. Thus IT sector is crashing so this share which is having most of the business in EUROPEAN countries also it is showing exhaustion after hitting the 1500 level so we can short it with simple price action and trading analysis for the 19 SEP 2022 intraday.
SELL levels are 1400 or before to reach the level of 1400 and then continue the move further.
BUY side is not recommending that much as its already on the sell-side and ran from the opening price up to 2100 which is 6 times of it so exhaustion in it is already seen and past trading days it's consolidating between the 1400 and 1500 even though it tries, to crack the 1500 but could not sustain that and now it is coming back its last support.
HINDALCO FOR 19 SEPTEMBER 2022As in the chart, we can see that HINDALCO successfully achieved its previous breakout zone but started consolidating at the level of 412 - 450. It created a box pattern. based on these levels we are expecting a gap-down opening which can lead it to up to the level of 400.
expected price opening to be around 412 to 410
THE FIRST TARGET ON SELL SIDE is FRIDAY'S low which is 405.
For the BUY Side, it must have taken the support of 412 which makes it hold that level and continue to be in the consolidation zone.
further buying is possible only when it breaks the level of 450.
NOTE- If open flat and try to trade in less quantity as it can respect the support level.
selling side can be possible only trying to go below 412 or 410.
level 405 (previous low) is a 50 DMA line on that level so it can go for a u-turn from that point if that break we can hold for the lower point.
Buying Opportunity in NIFTY Price has fallen almost 220 points today in an hour.
17635 level is the 0.5 Fib ratio of recent up trend
Expecting price to reverse from here at least for today
With small SL of 40 points we can go long on nifty 17660 with a SL of 17620-30
With an ATM option this will be Approximately with a risk of 750 to 1000 rs per lot
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Happiest Minds Cup and Handle LongA clear downtrend breakout and cup and handle pattern formation in Happiest Minds. From these levels, it can give a 25-30% move upwards. RSI is bullish above 50 and ADX is above 20 in the daily charts. OBV is rising. Important indicators hint a big move. Even the Ichimoku cloud indicator has indicated a reversal of the downtrend. I think it is a good trade to be taken. Let us see how it plays out. All the best.
Selling oppurtunity in Nifty @Nifty
Since the Price is falling I will be looking to short the index
Price probably took some support 17880
Since Price has fallen 230 points from day high ,expecting a small retracement or pull back in intraday.
So many supply areas has been created but 18000 being a psychological level ,I'm going with that one.
With small SL of 40 points we can short nifty 17965 with a SL of 18005
With an ATM option this will be Approximately with a risk of 1000 rs per lot.
PS: Price might not come back also.
**Before 17965 If a RED candle closes below 17880 I might plan the trade differently.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Canara Bank Long TradeHi guys we will buy Canara Bank because it has fallen quite a lot after the crash and has stabilized a little bit and if we look at the Us and
the India markets they are looking bullish so Canara Bank will also show signs of bullishness and it would be pretty good trade.
That's all make sure to follow and like
Bye
CHANNEL BREAKOUT IN POWERGRIDHello traders , here is the analysis for this stock let me know in the comment section below if you have any questions , the entry will be taken only if high of today is taken out . I suggest you keep this stock on your watchlist and see if the rules of your strategy are satisfied.. According to me, an up move can be expected in POWERGRID . Moreover it has consolidated near the channel high many days before breakout.
Keep trading ❤️
Hustle hard ✅
Marico -Marico was stuck in range since June, forming a Range contraction setup.
-Before breaking out, it forming inside bar formation and finally gave close above trendline.
-RSI has been facing rejection from 69-70 levels in the past, though RSI has broken out will watch out if this time RSI is able to break resistance
Buying Opportunity in BNF Bank Nifty looks strong as it broke past resistance.
If it trace back to its demand zone (40833) we can go long.
If you want confirmation wait for bullish candlestick pattern.
SL level will be 40700
Add 15th sep 40800 CE in your watchlist. SL will be 45-50 rs per lot.
If price comes back with big red candles definitely wait of bullish candlestick pattern.
PS: Price might not come back also.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.