The level of 18350-18400 has acted as crucial resistance in the past
Immediate Support at 18258 odd levels
High risk traders may consider buying Nifty 17 Nov expiry 18300 Put option between 58-66 (CMP 62.50)
Target 84 / 96 / 102
- The view expressed here is my personal view
- Past performance is not a guarantee for future...
Nifty is in the range of 200 points from the last 5 days if it breaks level of 18110 May be it falls upto 18000 on the upside there is no clear vision from side. On the technical side rsi is less than 40 in 5 minute time frame and Bollinger band also shows some bearishness.
We are looking at weekly chart of SBIN stock
- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone
Given the set up
One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could...
- We are looking at daily candlestick chart
- 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...
We are looking at weekly chart of Ambuja Cement
- weekly closing high 539.35
- low made thereafter 471.05
The stock has possibly done its short term target on the upside (Jitna neeche utna ooper)
Given the set up one may consider a Bear Call Spread strategy
Sell 560 Call option currently around 8.3
Buy 600 Call option...
We are looking at daily candlestick chart pattern
- ICICI Bank chart reflects it made a gravestone doji on September 15, 2022 (indicates previous buyers were happy to sell at 936 odd levels)
- subsequently we saw profit booking in the stock
- now the stock is back at 920-940 odd levels
- we see ICICI Bank still not making a decisive...
- After a big euphoric rally the stock seems to be consolidating now in the yellow channel box
21 day EMA is around 500
53 day EMA is around 464 and rising by around 1 point
My trading strategy is for a range bound market scenario.
Giving a profit potential of 11% till expiry as well as keeping loss limited
For details Like and message me
- 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
Given the set up one may consider a Short Strangle strategy for Nifty for November...
Today we are seeing people exiting from Call options and entering Put options.
In my morning post, we had mentioned Nifty PCR at 0.72 signifying oversold conditions and that Short trade should be carefully taken.
We had mentioned the level to short and accordingly given exits also. We had highlighted the level of 17096 in morning to short and at lower levels...
- we had already marked the red zone as resistance zone
Today we see a big gap down exactly after Nifty got rejected around 17320 odd levels.
Are you surprised or were you prepared?
- we are looking at 15 minute candlestick chart pattern
- we observe that the zone of 17026-17060 is very crucial for Nifty
- between September 28, 2022...
- After 3 Black crows candle stick pattern, recovery in the stock has been tepid so far
- The tepid recovery is also due to rise in crude oil prices during the same time.
- Given the setup, one may consider to sell Asian Paints 3500 Call Option around 50 (October series)
Keep a close watch if Asian Paints closes above 21 day EMA ( currently...
We were posted earlier 2days back that Nifty seems following the Elliot Wave. The last leg of Impulsive rally upto E is done.
And today's candle is a Spinning Top.
It seems not good days ahead ... 16200 in card for July Expiry? If Eliot Wave is something to go with. The collective phase upto point-A.
Last time in November when the stock was around 222, this is what was shared
The Line of Support provided perfect entry opportunity to buy.
Now we have seen the stock moving past the Line of resistance. Will it now act as Support?
Only time will tell...
Above 285, doors open up for a potential movement towards 305/ 320 odd levels in short term
- Major Resistance around 500 zone
- Major Line of Support at 376
- Minor Resistance around 462 odd levels
- Minor Support around 418 odd levels
Given the set up, my trading strategy: Short Strangle for April series
Sell 28 April...
Nifty is in Love Triangle. As every Love Triangle is painful, the same you might have felt on Friday. (Premium Killer moves on both sides).
It has to break on the upside (Break-Up) or Down side (Break-Down).
But as the Triangle breaks, any one becomes happy and one gets pain.
Here my bias is for the bear side. It is the Bear who will enjoy the BreakDown.