Nothing to advise trading derivatives, consult your investment adviser before taking any trades.
Sell Nifty Future 1 lot (50)
Buy 15700 Call 1 lot(50)
Sell 15900 Call 1 lot(50)
Sell 16100 Call 2 lots(50X2)
Sell 15400 Put 2 lots(50X2)
All Aug29 2021 series.
No loss as long as August expiry takes place within 14915-16140, max...
RSI could not sustain above 48, RSI below 50 indicates weak momentum today was the sixth consecutive closing with RSI below 50.
On two hours and hourly charts, RSI closed below 45 at closing, indicating further weakness.
EMA on RSI turned bearish even on shorter term charts.
Bias is on short side, keep looking at short period charts for confirmation.
Not as weak as BankNifty but structure is weak even on daily charts. 15600, 15450 maor supports on doenside. 15880-15900 strong resistance.
ADX as well as RSI showing weakness, RSI at lowest level since May 27th.
15800 Call and 15600 Pe have max OI for tomorrow, settlement expected within this range.
Trade under guidence of some expert only, this post is for...
34350-34400 zone is important to hold for tomorrow. Incase it doesn't hold, 34050-34150 zone remains important suport.
34740 is 21 days EMA, important to cross and hold for any upmove.
Intermisiate structure is wek, advance indicators like 9/34 EMAs on RSI, ADX, BB all showing weakness on daily charts for past few days.
The chart and post is not an suggestion /...
34350-34450 is an important zone, has supported the index multiple times in past few days.
Today's close has been lowest since May 21.
Incase 34300 breaks and BNifty remains lower, 33980 - 33770 - 33550 can be expected.
RSI closed below an important support line that was supporting it since May IInd Week,
though the index managed to find support today.
Many a times RSI provides a early warning.
RSI below 62 will be a confirmation of weakness and by then index will also come below the support line. 15601 remains an important support.
Bias Neutral to weak.
1. BankNifty closed below an important support line on index as well as RSI.
2. This support line was supporting BNifty since April 2nd week.
3. BNifty must exceed and sustain above 35430 tomorrow, for any major up move.
4. Similarly 21 period RSI need to cross 56 and sustain above that.
5 34500 and 34330 are major supports on downside.
Trade on short side...
Bank Nifty did made a smart recovery yesterday, from day's lowest levels.
It continues to remain in neutral to mild negative zone on daily to hourly charts, as per lead indicators.
34600-34400 remains strong demad zone while 35500-35900 is supply zone.
Keep an eye on hourly or shorter duration charts for further short term direction, 34750-35250 remains...
Important levels mentioned on chart itself.
Bias is negative, most indicators n price formation look weak.
Trade using low rist strategies, as B.Nifty is too volatile to trade unhedged. If you need any help with strategies, send me a direct message.
Besides downward channel, ADX and RSI both indicating weakness.
Stay short till there is no visibile signs of reversal.
Unlike on daily charts, hourly charts are indicating clear weakness.
Important levels are mentioned on my posts covering daily charts.
There was a much awaited dip, Index took a support near 8 DEMA and closed above.
ADX has flatned a bit, DI+ and DI- are indicating weakness.
RSI too has declined a bit, it is below 9EMA now.
31840, 31560 are supports, and 32350, 32450 and 32680 are resistance levels.