viswaram

viswaram

Nifty Stance Bearish ⬇ The opening hour on Friday really set the tone and I had published in tradingview minds that if we get a close below 24466, it's better to go short. Guess what, we closed below 24466, but the short trade did not really work out then.  Markets are rigged to the core, someone or some institution is really manipulating the markets, because...

viswaram

Nifty Stance Neutral ➡ After last week's rout, I had gone long on the index. Now when I look back, it was a poor decision to make. The reasons for going long was mostly because of the price action on the 5th of December when we had that humungous rally. This week we had an unusual flat price action with no real movement whatsoever. I read somewhere that the...

viswaram

Nifty Stance Bullish ⬆ This week Nifty is up 577pts ~ 2.4% which means our stance has changed from neutral to bullish. The price actions on Monday, Tuesday and Wednesday were well received and there was sanity in the markets. What happened on the 5th, Thursday is sure to give you shivers. We saw a 560pts ~ 2.31% intraday rally from LOD to HOD and then a fall of...

viswaram

8x 05DEC2024 24100PE - ₹ 166.65 8x 05DEC2024 24000PE - ₹ 129.57 Prob. of Profit 53.63% Max. Profit ₹ +7,416 (6.41%) Max. Loss ₹ -12,584 (-10.88%) Max. RR Ratio 1:0.59 Breakevens 24063.0 Positional Delta: 65.6 Theta: -35.65 Gamma: -0.05 Vega: -333.61

viswaram

Nifty Stance Neutral ➡️ This week was really terrible for me, not only did it wipe out my November, but it took out the October gains as well. Well, I do not blame the market for that, it was all on my overconfidence.  Never ever thought the state elections would play the role of big villain to my PnL. The mistake I made was not to concede ground on Friday itself...

viswaram

Sell 4x 28NOV2024 23500CE - ₹ 208.5 Sell 4x 28NOV2024 23500PE - ₹ 178.54 Buy 4x 28NOV2024 23800CE - ₹ 77.6 Buy 4x 28NOV2024 23200PE - ₹ 84.4 -- Max. Profit ₹ +22,504 (16.44%) Max. Loss ₹ -7,496 (-5.48%) Max. RR Ratio 1:3 Breakevens 23275.0-23725.0 Net Credit ₹ +22,504 Estimated Margin/Premium ₹ +136,898 Positional Delta: -3.89 Theta:...

viswaram

Nifty Stance Bearish ️⬇️ Remember my last week's position? Make 11170 if Nifty ends below 23555. Well, we ended the week @ 23346, but I did not make money. In fact, I exited the position at a loss of 3000 on 19th Nov when we shot up. My stance is still bearish, thought will get into fresh positions tomorrow and not today as there was clouded news & events today....

viswaram

--- Nifty Stance Bearish ️⬇️ In last week's report, we changed the stance to moderately bearish and kept a stop loss of 24394 for a neutral stance. What happened on Monday was quite unexpected, we rallied almost 340 points from the opening low and I had to exit my position at a minor loss. Right after the exit, the markets fell proving me wrong again. We also...

viswaram

Nifty Stance Bearish ️⬇️ The report we sent out last week had a full bearish stance, but this week we have reduced the intensity of the bearishness. The new stance is upgraded from bearish to slightly bearish. The rationale is that the momentum needs to really build up for further downfall. 23854 is the magic number below which we will intensify our level of...

viswaram

Nifty Stance Bearish ️⬇️ The Nifty went up by 90 points 0.38% this week, but we are still in a bearish hold and hence are not revising our stance. We saw a good bounce on the 28th morning session and then we gave up some gains in the afternoon session. On Tuesday we started falling initially and then recovered superbly. On Wednesday we held the ground, but on...

viswaram

BankNifty Stance Bearish ️⬇️ BN has fallen only 2.46% ~ 1283 points and is much better than Nifty on a relative basis. IndusInd Bank took a huge beating on Friday as it fell ~ 18.63% due to poor quarterly results. Indian stock markets are not used to such wild reactions, but if our markets start punishing stocks for bad results, I guess it is much better for the...

viswaram

Nifty Stance Bearish ️⬇️ We fell 649pts ~ 2.61% this week and our bearish stance from the prior week helped us gain some money. My October PnL was in deep red, thanks to the abrupt swings in between - but the unidirectional move this week was a real blessing and I was able to cut down my losses. The Head and Shoulders position that we published on the daily time...

viswaram

BankNifty Stance Neutral ➡️ In last week's report, I did mention that we would be forced to exit the bearish position if we get a close above 51713. The fact is that we went above these levels by 15th October itself i.e. day 2 of this week. On Thursday, we melted and then on Friday, we saw the short covering that propelled us to close at 52138. The short covering...

viswaram

Nifty Stance Bearish ️⬇️ We went short and Nifty is down 114pts ~ 0.46% in the last week. Even after the crazy price action on the 18th wherein N50 rallied 315pts ~ 1.28% from a new swing low of 24567, N50 is still in the RED territory . 50 and 200 EMA are still diverging showing signs of the bears starting to emerge. But this is not entirely confirmed, the...

viswaram

BankNifty Stance Bearish ️⬇️ For the week of 7th to 11th October, BankNifty fell 382pts ~ -0.74%, the price action looked stable and sideways but the only reason I am bearish is because of the preceding week's price action. If BN reverses and takes out 51713 decisively, I will change my stance to neutral next week. Two major decisions happened on BankNifty this...

viswaram

Nifty Stance Bearish ️⬇️ On a week-to-week basis, Nifty only dropped 81 points, but the real reason I am still bearish is because the pullback we had on the 9th was not powerful enough to take out the last swing low. You can also notice the 50 EMA crossing the 200 EMA from top to bottom. I am using a 63mts custom time frame, but this must be true even for the...

viswaram

--- BankNifty Stance Bearish ️⬇️ Banknifty also dropped 4.24% ~ 2280pts, the reversal signs were pretty clear last week and we did mention it in our weekly newsletter as well. There were 3 interesting moves this week.  Gap down on 30th Sep Gap down on 3rd Oct Strong price action on 4th Oct In fact, we fell almost 800 pts on 4th Oct after 12.30 pm, negating our...

viswaram

Nifty Stance Bearish ️⬇️ What a dramatic week it has been, Nifty falls 1130pts ~ 4.32% after SEBI's new FnO rule changes go live. What spooked the markets? I guess the fear that liquidity may get sucked out post 20th November 2024. Or is it because China's stock market is going limit up? The fall in our market was kind of different, usually the bear power lasts...