viswaram

viswaram

Nifty Stance Bearish 🐻 Last week, we had gone long at 24616 when the EMAs had a positive cross; things were looking pretty awesome back then. In fact, everything was okay till yesterday 11th June, and we were on track to go for 25400 when the news broke out that Israel may take on Iran. This news byte came on Thursday and immediately our markets fell. The EMA...

viswaram

Nifty Stance Bullish ⬆ First of all, a big sorry for not posting in the last 3 months. No, it was not because I wasn't trading; it was because of some other good news. I got a contract to write a new book on "How to learn mutual funds in 30 days," and I was working on that manuscript night and day. I wrote almost 45 chapters, and I hope around 90% of the work is...

viswaram

Nifty Stance Neutral ➡ Friday 28th February, was amazing. We opened the day directly below two support levels 22519 and 22453. It was quite clear the direction was going to be downward as the momentum was in favor of the Bears. By Monday, the 3rd March, we broke the 22051 support as well. This was a likely outcome as discussed in the last week's analysis. What was...

viswaram

Nifty Stance Bearish ⬇ We fell 394pts ~ 1.72% this week and what was noticeable was the gap down on Monday 24th Feb. We were struggling to break down from the 22781 levels. We would have at least bounced from those levels 4 times and the likely outcome discussed was to break it with a gap-down. The next support of 22519 came into play and we hit this on the 24th...

viswaram

Nifty Stance Bearish ⬇ Over this week Nifty has fallen by 113pts ~ 0.49%, but the bears could not breach the 22781 support level. Now that is serious, we have knocked on this door at least 5 times and every time we got a rejection. The momentum is building up and a breach will take us to 22519 & 22453 in no time. If we do not break the support then it's good news...

viswaram

Nifty Stance Bearish ⬇ Before I start the postmortem weekly analysis, I am so glad to inform you that my book “How to join the top 1% options traders club, from starting out to profitable trading” is now available online as well as in leading bookstores. If you manage to find a copy, do send me the comments. Just google for the title to find a place to buy. Last...

viswaram

Nifty Stance Bullish ⬆ Nifty went up 352pts ~ 1.52% this week. It even broke through the resistance level of 23357 which prompted me to change the stance from neutral to bullish. There were 2 events that happened this week. The Union Budget on 1st Feb was received well. It had a significant tax relief for all salaried classes (up to 12,00,000 income). Markets...

viswaram

Nifty Stance Neutral ➡ Nifty went up 80pts ~ 0.34% over the last week but not before some drama. From the chart below you can notice two horizontal lines resistance at 23357 support at 22781 You may have also noticed how Nifty hit both these lines this week and reversed exactly from that zone. On Friday we hit the resistance and on Monday we hit the...

viswaram

Nifty Stance Bearish ⬇ Over the last week, we fell 132pts ~ 0.57%, but most importantly we defended the resistance level of 23357 confidently. On 3 occasions we went above this level, but the bears managed to bring Nifty down to a comfortable position. Another interesting fact is that we hit a new session low of 22976 this week, not once but twice. Something...

viswaram

Nifty Stance Bearish ⬇ We dropped 208pts ~ 0.89% over the last week. What would have been a superb bear trend was cut short at 23047. The price action of Monday 13th Jan was dangerous and it got the entire investing community talking. The recovery from there has been nothing short of magic, but the markets have still not taken out the 23357 resistance level. A...

viswaram

--- Nifty Stance Bearish ⬇ I had guided for a bullish week if you had read my last weekly report. Everything looked up, as we had moved close to 766 points in the last expiry. Surprisingly, tables changed fast enough, on Friday we had a down day and then on Monday, we had an immense fall. You would not believe that the low made on Monday was 23557 and the final...

viswaram

--- Nifty Stance Bullish ⬆ In the last post mortem report, I did indicate the change of stance if Nifty goes above 24177. Nifty has a close of 24188 (weighted average) and 24167 (traded value) - so I cannot say with a 100% guarantee if we got a real close above 24177 or not. The 445 pts ~ 1.88% move today gives nifty a direct stance change from bearish to bullish...

viswaram

Nifty Stance Bearish ⬇ On a week-to-week basis, we only fell 204pts ~ 0.85%, but things definitely did not look good last Friday. We could have easily taken out the 23350 levels but the reversal on Monday halted the momentum. I guess the sellers will have to rally the market again to push it down later. On Friday, Nifty had a high of 24065 and a low of 23537, a...

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...