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...
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...
Nifty
- 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?
Going forward
- 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...
Asian Paints
- 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
F&O...
Tata Motors
- 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.
Call...
In this video, I am giving you an update omn the short strangle trade that I had paper traded. I hope this helps you understand the concept of writing options.
Please keep sharing your feedback.
Thanks,
Umesh
Nifty
This is not a fresh recommendation
- In our earlier post we had warned about trouble times for Nifty based on the chart set up
- we had also highlighted the possibility of Nifty breaking Support line based on the 2-3-5 Rule ( in the 5th attempt, the chances of breaking the support line is higher)
Well, 2-3-5 Rule works its magic...
As it was the 5th...
- Nifty could be attempting the Line of Support for the 5th time
- the 2-3-5 Rule suggests not to Buy when it comes to the Line of Support for the 5th time.
- Would it break???
Target for the setup in case we see a breakdown is mentioned in the chart. SL if the line of resistance is taken out ( red trendline)
This is not an intraday view but more of a...
The stock is at crucial resistance levels
Given the set up one may consider to sell 25 Nov expiry 260 Call option currently around 7
Strategy has max profit potential of Rs 47250- per lot and has in built loss protection for a rise up to 267
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not...
Infy
Observations
- multiple resistance seen between 1745-1820
- line of resistance level around 25 Nov is around 1855
- support around 1667
- major support around 1600-1592 levels
For any cash buying decisions, that's the zone where risk::reward ratio looks most favorable...
This is a follow up. In our earlier post we had suggested the need of holding 738-712 odd levels.
Now on weekly charts we see dragonfly doji and then later gravestone doji both forming around 712 odd levels
The set up has a target of 758 / 805 / 820 odd levels
Keep a SL at...
LIC HSG FIN
Observations
- stock is at important resistance zone
if this zone is taken out next resistance level is around 476-484 levels
- the red line of resistance and grey horizontal resistance line coincides around 484 on 28 October
- on the down side green line support on 28 October comes at 410 odd levels
Given the important levels
Strategy that may...
