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Uptrend

NIFTY weekly view June 8 - 12I'll use my monthly view post to take weekly analysis forward There are interesting things to observe. 1. NIFTY has crossed previous intermediate high of 9889.05 of April last week. This makes it in firmly uptrend. 2. NIFTY is in uptrend on daily and weekly trend. 3. It is now visible to us that April was first leg of retracement and now second leg of retracement is in action. 4. Second leg of retracement is much more vigorous and has great quality of momentum. That is standard deviation of movement is less. One can see it is sticking to 44 degree line very nicely. 5. VIX is no longer above 30. This means traders are not uncertain about returns. 6. 10380-10600 is the possible resistance zone overhead. This zone is now just 250 points away. 7. As breakout of previous high is now confirmed, I take support level as 9824.05. The next support is 9600. This zone should not get violated in the current up swing if my assumptions are correct about the current rally. 8. It is very difficult to see what NIFTY will do daily but, I will continue to assume the 44 degree line as mean line of this movement. 9. NIFTY gained around 6% last two weeks. It is great speed at which this rally is rising. FII are net buyers in the market from May 26. Here are my few "lines in sand" or trade plan for the coming week. Things I am very sure of (~80%) 1. NIFTY to stay above 9700. 2. There will be resistance in 10400-10600. 3. NIFTY will form some candle with shadows on weekly frame. Like Doji / Hammer / Shooting star. Things I am somewhat believing (~60%) 1. The current week's high will not be turning point or swing high. 2. 10700 is the upper end of the range of this week. 3. This upswing likely to continue at least till June 18. Possible trades of very low risk.These are just ideas. 1. Going short using 10700 CALLs on sudden rises in early part of the week. 2. Creating 10600/10800 spreads (1x) and 9700/9600 spreads (2x~ next expiry) 3. Adding to 9700/9600 spreads on 2 day - 3 day consolidations. 4. Creating above high of the candle spread for next expiry. Lets see how it goes. Now since VIX is cooling off, Intraday time frames will be harder to trade, especially 15 mins and 30 mins. Hence I'll mostly work on 2-5 trading session holding periods.
NSE:NIFTYLong
by Observe_Think_Act_Think
3
LONG POSITION ON INFOSYS[ b]This analysis is only for educational purposes, Invest at your own risk! INFY closed at 652.30 on Friday with relatively low volume near its Support line An uptrend can be seen in the ON BALANCE VOLUME INDICATOR Using the pitchfork an uptrend can be spotted in the price too A long position can prove to be profitable by buying in at 652-653 Range and targeting around 670-685 range The percentage profit should be based upon the risk taking capabilities of an Individual ALL THE BEST TO EVERYONE ! Cheers!
NSE:INFYLong
by Aditya_Singh21
Nifty seems to undergo in more downtrend !!The time frame is 3H. As per the current sentiment of the market, it is highly probable that nifty gets into a downtrend after the 20% recovery of the market. PS- Its my personal view on Nifty 50. If the pandemic situation gets more worst( which looks to be sure), chances arises to see lower levels of nifty in the future. It's better to keep invest in every dip of like 100-200 gaps which I do. Pro tip- In the current unstable market, it's always better to have some cash in hand and not to invest the total amount of your account.
NSE:NIFTY
by Saagar_patil