Yesterday I told you will look to buy above 11820.
The market made low 11833 but could not catch @ the bottom. sold 11800 PE around 11850.
And book the profit around 11920.
Tomorrow I will again look to sell PE till the
market sustain above 11905 and
will sell CE if the market sustains below 11880.
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Gold against Dollar, have been seeing the bullish trend right from the 1st of October, reason could be weakening US Dollar , strong fundamentals have contributing the bulls of this pair particularly US Elections also joins, Last week the sudden rise of Gold is expected to go Long for at least next few days in the coming week.. may be till 15-Oct till at the price...
Market Range - 11800- 11650.
above 11800 long and below 11650 short.
but this is 150 point range and as an Intraday trader, we have to make money in between these range.
i have draw a trend line if the market closes below that line in 5 min chart I will short and above that trend line, I will go long.
don't wait for long profit insted book small profit multiple...
today our view was to buy on every dip. I update you in the live market that I am selling 11700 pe @ 52 and booked @ 42 .it closes around 28.
tomorrow I will again look for buy on the dip or above today's trend line.only short if nifty sustain below today's low.
Let me know if you find this useful and if I should continue posting such ideas on daily basis for intraday/swing levels of stocks & indices?
Take a look at the chart properly for detailed analysis,
also please note that this idea is purely for educational purpose only, kindly do your own research before investing and trading or consult your...
or example, if nifty break 11305 ...and sustain buy 11300 CE.
as options data suggest we have very less possibility to break 11170. and nifty might open above the Range.
if nifty not break the range in 30-45 min then we have range bound market and will have momentum in the second session only.
MY possible setup.
1 flat opening
sell 11350 ce and 11150 pe
NIFTY TRADE SETUP FOR MONDAY
Although nifty recovery around 250 points from the low in a single trading day but the market is still bearish.
if market opens above 11080 and sustain then we can initiate long for day trading. But in that scenario, I prefer to sell the put options with 11040 stop loss. .
the market can be range-bound between 11110- 11180.