A shooting start appeared close to the 50 percent fib retracement, the tail of the candle faced resistance at the MA. The volumes of up candles seem decent RSI is at 50 levels. A failure swing may form at the 50 levels, bulls should be comfortable above 1657 with good volumes follow up.
Nifty closed the day 313 points lower. Let us analyse the data for the day.
FIIs sold 16996 contracts in Index Futures worth 803.13 Cr
Retail participants added 9.08K Long contracts & squared off 3.87K short contracts
FIIs squared off 1.05K Long contracts & added 15.94K Short contracts
Pro traders added 8.08K Long contracts & added 3K Short...
Today earnings of Reliance industries were declared. It is very clear that the bottom-line of business took a good hit.
Now, RIL has issued the right issue. Here is my look at how as an investor you should look at it.
The right issue will technically reduce your ownership if you don't participate in the right issue. I think one can sell RIL from current level...
Closing price 9383
This is our Nifty 14-May-2020 expiry strategy view
FIIs net bought 1626 Contracts amounting -48.87 Cr
FIIS squared off 11.47 K Long contracts & also exited 13.09 K Contracts from Short positions. In doing so, their over all...
Upside target (22300-22500) posted last week is still valid, being monthly expiry the don't see any major correction today.
Yello zone is no trading zone, above is long and below is short.
Trade with light quality and look out for 22,000 CE unwinding if happens, enter next series 22500 CE and exit around 22300-22500 BN range.
Shorting only below day low gets violated.
Consider selling Nifty 30-April expiry
9100 Put option around 50
9600 Call option around 38
Max profit potential Rs 6600/-
Loss only if Nifty closes above 9688 or below 9012 on 30-April-2020
Take care & safe trading...!!!
RELIANCE FUTURES AND OPTIONS MOMENTUM TRADE IN MAY CONTRACT
!!please note trade with caution!!
!!manage your risk!!
!!please adjust for future rates!!
!!intra-day ideas series everday at between 9:30 to 10:30!!
OPTIONS TRADE IN RELIANCE
Nifty expiry looks likely to be capped on the upside with key levels of 9240 / 9266 / 9285 to act as resistance.
On the lower side 9156 could likely be key support levels for the day.
My trading play is more inclined towards upside being capped with 9240-9265 levels being my guiding levels
This is just a view based on my analysis...
20 day EMA stays below 50 day EMA signals the continuation of bearish sentiment. Evening star pattern in daily chart confirms the resumption of bearish sentiment. Expect the index to stay below 22000 level for this expiry.
As we have seen reliance followed our targets of top levels. Now what we have to keep in mind is 1500 levels acts as a strong or rather very strong resistance. Now we have to keep in mind reliance can even touch 1750 levels once(ONCE), Mark it and it would be only factor to lift up nifty, and in other terms if it does goes up, will deny all other stocks which have...
In our previous post we had mentioned that if Nifty has to go down, it has to break below 20 day EMA in the next 2 days.
That is what we have precisely seen. Opening scene of Day 2 – Nifty opens & stays below 20 day EMA throughout the day. We have...