Observe_Think_Act_Think

Observe_Think_Act_Think

The range bound day. As I expected, NIFTY is chopping around key levels like 9300. 9:45 Initial Selling from 9385. Clearly establishing as resistance. 11:00 Follow up moves after selling is missing. 11:30 Selling around 9300. Crossed Low of the Day. 01:30 Consolidation in the range. Wait for breakout 03:00 Last Hour Selling. From Price Action , I think 1....

Observe_Think_Act_Think

1. On daily charts, NIFTY is making higher lows. The Higher high is not clearly established. 2. Other thing that is happening is there are overlapping moves, that is characteristic of sideways market. 3. VIX is down below 40%. That means overall the intra-day ranges will get narrower. This type of moves are frustrating for trend followers. The market can remain...

Observe_Think_Act_Think

NIFTY Gaped up. Since the breakout of 9250 was held for 15 Mins , I entered PUT 9200. This was aggressive because the level for stop loss was 9040 , which is way below the opening level. 1. 9200 PUT sold at 152 Rs Then NIFTY touched 9220, which I though was a pullback. 2. 9100 PUT sold at 152 Rs NIFTY crashed and consolidated around 9130. Then there was sharp...

Observe_Think_Act_Think

Expiry Day today. I had sold OTM calls 9400, 9300 and 9100. This was mainly because. 1. NIFTY reversed sharply from resistance zone between 9250-9300. 2. I think the reversal was strong and made lower low on daily frame. 3. The monthly trend still remains bearish and weekly trend is sideways. No new trades today. Overall traded as per plan. 1. NIFTY reversed...

Observe_Think_Act_Think

NIFTY opened gap up. But There was no momentum on the upside. Then the fall was sudden. This is possible change of trend. NIFTY is back in the range now.

Observe_Think_Act_Think Updated 

Monthly View This view is Useful till 1) May 15 , 2020 2) Break of 10040 whichever condition occurs earlier. Things to remember 1) Volatility is unusually High. Record High --> Small lots, Quick to book profits on both the sides. 2) Monthly very large loss because of social and economic uncertainty --> Mostly lesser than March range < 4000 point Range...

Observe_Think_Act_Think

Nifty Gaped up and continued moving in one direction. I was thinking about this kind of day for last 3-4 sessions, but never imagined such a strong momentum. I could not capitalise this move fully. Ended the day with normal profit. There are few points to keep in mind. 1) VIX did not fall proportional to this strong move. 2) 9100 continues to be strong...