Profit
Trade Log Nifty IntradayDOW is range bound but bullish. Asian Markets are mildly negative.
Mostly expectation is to have consolidation day.
Action : Wait to see how NIFTY is ranging in the first 30 minutes to 1 hr. SGX Nifty is mildly down.
When NIFTY broke above 8500 in first 30 Mins, then sold PUT @69 and then covered it before FM's conference.
Trade Log Nifty IntradayDate : March 25, 2020 8:00 AM
Monthly : Bearish.
Highly bearish candle. For any trend reversal or consolidation to happen, NIFTY should close above 8990 first and then 9500.
Weekly : Bearish.
Formation of 7th Lower Low is being formed in the current week. Weekly momentum has not shown any signs of slowing down. Any Higher high candle will be a first bounce and hence likely to fail. For consolidation, NIFTY must close above 8160.
Daily : Indecisive.
24th March candle is indecisive. There are indications that the momentum of the trend is slowing down.
Action : Since the market is extremely oversold. Look for the opportunities for buying.
Trade Log BANKNIFTY Intraday Date : March 24, 2020 8:30 AM
Asian markets up and SGX nifty up. There is no major news, so this could be a more technical pullback.
Action : If it gaps up, sell 1 lot and cover on the gap fill. And then the idea would be to again buy gap fill and wait for profitable exit.
If there is no gap, then wait for the index to establish the range.
Look for any good stock on the long side.
Due to extreme volatility, only trade 1 or 2 lots. There can be no trade as well.