Nifty has been at the all time highs and people buying pretty much everyday or the other. We need to have a bit of reality check here. It's totally fine to hold your Long positions unless and until some real negativity pops up (eg, Newton's First Law ~ An object in motion will continue to be in motion unless and until some external force acts upon it :D )
UPL had dropped to 250 levels in the corona meltdown. it majorly moved within a channel. It gave 3 major entry points in long positions :
It broke the Trend line at 500 giving entry for short opportunity. Shorts has to booked at 400.
Again it broke the Trend Line (TL) at 444 giving fresh long position entry.
10th Dec there was some...
11 Dec was as range bound day. In these scenarios our key objective is to sell at the highs & buy the lows as much as possible with rapid execution times. It's preferable to be in either long/short at any point in the market.
Entry 1: Short at 30780 Reason : TL break, Signal generated & cash flow negative
Exit 1: Booked at 30550 Reason : Critical pivot is...
BNF started the day with strong bullish bias indicated by the first long green candle of 9.15. Ideal to go long at 9.30. why ?
1. Strong bearish rejection happened
2. Inspite of gap down, it attained the previous day close levels of 29600.
3.It broke the critical pivot in the first bullish candle.
Continue as long as the trend continues (Trend line is held...
Bank nifty has shot near to it's all time high, and starting a new month today. we should relook at the patterns created by BNF in the past few months in order to predict the possibilities of the current month.
The enthusiasm about vaccine & economic recovery has helped it reach the current high levels. Though we are pretty far from recovery I believe. On...
NDX is showing first signs of profit booking currently. Driven by hopes of vaccine , it has shot up significantly but unable to cross the resistance of 12200-12400. This will only cross by significant economic boost or positive bottom line impact from top firms. In this case it can blast off 200-400 points from current levels before consolidating.
In case it...
Apollo Hospital has has broken the dynamic support resistance at 1800 and sped upwards very fast , we can continue to buy on dip till TL is taken out.
Also any positional long should not be sustained once 1800 is broken. Using indicators confirmation may help
Nifty is about to take a down turn. It might go up further a bit before nose diving for the trend line retest.
We have seen the trend line being tested at all critical levels such as 7600, 9000, 10800 , 11600. Now we need to watch out for the next BIG SHORT.
A horizontal time tested support line is being drawn which intersects the TL at 12300-12400.
Bias was positive from the beginning of the day.
What to watch out ? Initial candles are aligned with Positive bias or not. In this case, YES.
1st Long around 9.30 upon confirmation of trend in direction of bias with SL at critical pivot.
As we see the price did not break the support of previous day (marked in chart).
Slowly it breached the resistance of...
Nifty has reached the target created by the flag pattern.
Now we have to follow the trend, buy on dips as long as the short term support holds. We need to reverse the position on breaking of the trend line or the short term support.
Bank Nifty has been following up nicely on the upside for last few sessions. Today it gave the first break of that trend line
Idea is wait for a pull back to the trend line to short
Or break down of the short term support zone will also lead to short
The levels & zones are drawn in chart
Bank nifty is testing a dynamic support zone . Either side break might see a strong move. Let's watch out for the breaks
If it breaks on the upside , good will be to pick up longs on the white trend line
If it breaks the dynamic support, wait for slight pull back to short or strict sl with the dynamic support/resistance zone
TaMo was following the trend line nicely, with lot of opportunities to do pyramiding . Booked all shorts as soon as the line is broken.
What to look for next?
Does it go side ways Or breakouts
Currently it's moving sideways , so good to sell options of call, put slightly otm. having said that be ready for adjustments in case breakout happens ( levels are...
It's quite visible it's moving within a range , forming a channel. High chances of correction from this point, the targets are clearly mentioned in the chart . Only initiate the shorts upon confirmation signals
UPL is trading with a negative bias. nicely following up the trend line depicted in the chart. We should try to follow the trend as long as it continues. AS long as 490 is not taken out on the upside , we can sell the rally. use proper system setup to enter & exit.
Good for intraday as long the trend continues