Indexes analysis for 18th December 2023 for educational purpose
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI...
GOLD SPOT USD looks like selling pressure below 1700
if 1700 break and fall down wait for retest the 1700 for good selling pressure
ABOVE 1730 We Wil get Buy Signal , If the retest fail after 1730 break then selling signal pressure comes
A hugely volatile day observed following global cues. Flag patter in observed on 1 minute chart with a downside breakdown however, it is near a support zone. Wish to see the support would be held and continue with sideways movement.
Breakout visible at the end of the screen capture!
Price action suggested a weakness in the index, hence continued to add more option selling at 14800 CE and bringing the hedge down from 14900 CE to 14850CE, thus reducing the risk in the trade and improving the risk-reward.
Gap up opening was a bit of a scare initially for the Call sold position, however there was no decisive upmove which was a saviour.
Yesterday, we entered into a trade for tomorrow's expiry. We also discussed about the presence of strong resistance around 14650 to 14660 levels for Nifty50, that is where we have observed some correction or reversal. Our trade for Sell 14800CE is intact, while we have shifted the short position of 14150PE to 14250PE which is a safe bet.
