18030-18065 would play a crucial role
Sustaining below 18030 on 15 min candle one may look to sell for target of 17960 odd levels with a SL tad above 18065
giving a Risk:: Reward ratio of 1::2
A weekly close below 17960 could open doors for a move towards 17800 / 17750 odd levels.
Sustaining 17960 and managing to give a Weekly close Above 18065 In that case...
Nifty
On 29 Dec expiry day, I had suggested a Long trade which was squared off once Nifty touched 21 day EMA. It's there in the timeline.
Now, we are looking at Daily candlestick chart pattern
1. Nifty yo-yoing between 21 day EMA (Currently around 18252) and 63 day EMA ( around 18083)
2. Given breakdown below the blue trend line and now retesting it
3....
IOC
The stock is in strong territory and has support at 73.5 / 68
Target for the current set up 79 / 84 / 90
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational...
Nifty
- We are looking at daily candlestick chart
Observations
- On 16 Sept Nifty opened gap down between 17877 to 17796
- coincidently Nifty 76.4% retracement level is also around same level 17777
- for 4 consecutive days Nifty is struggling at 17800 levels
- With 1 hour's trade to go today volume is on a lesser side
Given the conditions, fresh longs in...
Nifty
- we see Nifty trading above 21 day EMA, 63 day EMA and well above 252 day EMA
- Line of resistance around 18200 odd levels
- Line of Support around 16800
- So is the 200 day EMA support around 16780
Right now we are in the middle of the range
Trading strategy
Given the set up one may consider a Short Strangle strategy for Nifty for November...
Nifty
CMP 14801
- Nifty has 20 day and 50 day EMA support around 14620-14650
- Resistance around recent high of 15044
Given the set up
One may consider a Short strangle strategy for 06 May expiry
Sell Nifty
14600 Put option around 100
15000 Call option around 82
Max profit potential in strategy Rs 13650 (approximately 8% on Margin requirement)
Loss in...
