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daerontrading

Nifty outlook is different when you compare it with banknifty. The only laggard is the underperformance of Reliance. It would be very difficult to attain 18000 with Reliance hovering below 2600. So, despite of the general outlook of positional longs, keep tracking Reliance as the breakout, if happens, will propel nifty above 18000. Till then nifty would be...

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For almost 2 weeks I have been of the view that positionally market (few intraday views have been bearish) is long and what we observed on Friday is profit booking as banknifty had moved a lot. Positional view of banknifty is still long and buy on dip strategy is on till we reach 43500. This has been strengthened by US market movement on Friday. The point of...

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NHPC is prepping for a long term multi year break out and there are few important points to note 1. Monthly average volume of delivery is around 50% 2. NHPC arm to develop 10 GW renewable energy parks in Rajasthan 3. NHPC Consolidated June 2022 Net Sales at Rs 2,785.14 crore, up 15.23% Y-o-Y (10th Aug) 4. Chart has formed a round bottom recovery which shows a...

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Banknifty has shown extreme volatility based on global cues and Mr. Powell's speech and it is very difficult to trade unless you are already on the winning side. General consensus is not clear but bias is bearish for now. Conviction bearish Bias bearish Trade Setup Long above 39674 Target 39947 Short below 39287 Target 39000 >>Option buying<< (take next week...

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Nifty is in a consolidation phase with extreme volatility in response to global cues. In a sense, the current market situation is not good after hawkish statements from Jerome Powell where he affirmed the hawkish stance the feds are willing to maintain in order to curb the rising inflation. The whole scenario is somewhat US mediated as the inflation was triggered...

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Whatever happened since 1 pm is profit booking followed by panic among long positions held in cash. The standard candles were having so much less movement till 1 PM that the standard candles look like Heiken Ashi chart. However, this move does not mean that we have entered a bear market. This is still a pull back and we are maintaining the bull run. In the near...

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Nifty opened above our previously discussed level and technically made a double top after taking support from that exact level of 17642. The down move that came since 1 pm was massive and was not exactly unprecedented. Max Pain level was 17600 and given the weakness in Reliance we had the anticipation that expiry would be around that level. What we did not expect...

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Movement in nifty has rather been subdued as compared to banknifty. Given current market breadth of stocks, up move is due in nifty. If global cues support, you can expect a round of short covering in nifty. Conviction bullish Bias bullish Trade Setup Long above 17613 Target 17709 Short below 17522 Target 17428-17385 >>Option buying Long Position: Buy...

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Banknifty has confirmed its strength by managing a close above 39000 despite weak global cues. The doors of 42000 has been opened and you can sit with a long position with SL at 38400 positionally. Intraday is a different game and expect some volatility to persist for next one or two weeks. If we suddenly slip below 39000 and banknifty spends some time there,...

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After nifty opened gap down shorts were booked. This led to the initial up move followed by a phase of consolidation. The last min up move happened due to to hitting stop losses of bears. But major stop losses are still set above 17800 so major up move is due. This is well and good but the current movement in dow is suggests some weakness is due in the markets....

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This was what I was talking about in my previous ideas. It is very dangerous to take short positions in such pull backs because you do not know when there will be reversal and short covering would start. Today most of the short covering came from 38500 CE short positions where bulls managed to hit the stop losses bears had placed in the system. This was evident...

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Some movements have a larger implications than what is apparent. Yes this correction was over due and overbought markets tend to go higher are contradictory statements. But nifty just entered below the long term trend line which has been running since nifty hit all time high and later failed to reach that on multiple occasions. So are we going to hit a new low on...

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Market is in a stage where you confidently cannot take any directional view even though the fall seems to be quite straightforward. Banknifty had no movement after the initial 15-30 mins as compared to nifty which had a more steady fall. It had opened below our shorting level of 38855 and was a good candidate for short. I usually do not take a trade immediately...

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This message is in continuation of the first post regarding this stock. Those who have entered back then can enter with their second part now. ************************************************************************* Neogen chemicals posted a very robust result in the last quarter. The major correction seems to be over and the stock has taken an up trend. Even...

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Nifty is following the sentiment changes where the mood has shifted to profit booking and correction. But I would like to repeat again that over bought markets tend to go higher. Few days back where even a monkey with a demat account was long on the index, today most of them have take SL or shifted to the short side. That gives bulls a chance to initiate a short...

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With all the bad news flowing in about UK inflation data and Ukraine not willing to negotiate, banknifty took a nose dive even after having a gap up opening leading to a steady fall and finally closing below 39000. Market had an over haul of long positions and a lot of them were taken out. But the problem is that it is now filled with shorts; though not...

daerontrading Updated 

Sail is on a steady up move and has given a significant break out on the daily charts. Setup looks good for positional long. Intraday charts show higher low formation Entry CMP Target 82-93 SL 70 Market has a bullish bias given the consolidation and good inflation data from US ------------------------------------------- Standard Disclaimer Trading stocks,...

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Nifty got rejected from yesterday's high and that is one thing I am concerned about. Nifty is some what being pushed by banknifty but core stocks need to perform for 18000. Long built up is happening in stocks outside nifty and that is why index is not moving that much as expected. It would be difficult to touch 18000 if international markets stay sideways to...