Sky_Tracer

Sky_Tracer

LTIM is a resilient IT stock amidst a falling Market. The price action on this scrip has been quite Bullish this month. Those looking to play in the F&O s pace can build a long position once price closes above 6000 level today or tomorrow. Target would be 6300. Either go for an ATM or slightly OTM option.

Sky_Tracer

Kotak Bank looks super weak as is the case with overall Banking sector. Short position can be taken for this Month expiry. Target - 1665 only.

Sky_Tracer

Nifty has broken the Daily Pivot and is weak. I have taken an intraday short position till Daily Support-1 at 23,985.

Sky_Tracer

Nifty is reversing on a short term basis. I have taken a Long position for a Weekly Target of 24,525. SL will be the current days Low.

Sky_Tracer

BN formed an indecisive Doji type candle with a negative Bias last week. Quite similar to Nifty. BN unlike Nifty continues to trade in the range from 50,500 (Lower) to 52,450 (Higher). We can anticipate 50,800 to be tested this week. However, if 50,800 also breaks, then we will need to see the intensity of the break. In the coming weeks perhaps even 50,000...

Sky_Tracer

Nifty formed an Indecisive Doji type candle with a bearish Bias on the Weekly chart. The overall sentiment remains firmly Bearish for now. While there was a bounce from 23,850 levels, that bounce was unable to sustain. I had already taken short position on Swing basis on 7th Nov with a plan to hold it till 23,550. (Refer to my earlier posts). ...

Sky_Tracer

Heromoto Corp is looking structurally weak. Lower Highs being formed. A short swing type position can be taken for a target of 4555. Anticipating this level to be hit within the next week or so. Definitely in the November series.

Sky_Tracer

Once BN breaches 51,609.05 i.e today's Low, short trade can be initiated on intraday basis. First Target 51,380.

Sky_Tracer

In Continuation to my last post on Nifty yesterday, i.e. 7th Nov 2024, we can clearly see the weakness in Nifty that is prevalent. A Head & Shoulders pattern is developing on the 4H chart. Clearly, the buyers aren't able to sustain momentum and this typically is a sign of overvaluation. While there may be sharp rallies to the upside, these will most likely get...

Sky_Tracer

ICICI bank is forming Lower Highs from the peak and I believe that it has exhausted strength from the Highs. Today's Daily candle suggests strong selling from the top and hence I have taken a Swing basis PE position. My Target is 1230 price level which I estimate should be hit within the next two weeks.

Sky_Tracer

Asian Paints is setting up for a reversal trade. The price has not been able to form a significant low in the last two trading sessions. Once 2903 level is breached strongly on the upside, we can target 2963 as the First Target. There could be further upside after that to 3060 level! This is a Mean Reversion Trade. I'm anticipating the trigger to happen...

Sky_Tracer

If Nifty forms an Open = High Daily candle today by EOD, i.e. a totally Bearish Red candle, this means the sentiment on Nifty is pretty clear for further downside to be taken on a Swing basis. The criteria is that by 15:20 or so Nifty should be around 24,300 or below that level. If that happens, a Swing / Positional short trade can be taken for November...

Sky_Tracer

Bharti Airtel is showing a great reversal from it's Trend line and Monthly Support zone. A quick long trade can be taken for a modest target of 1632. An ATM CE Buy can be taken and you can hedge it with a far OTM CE Sell to create a Spread.

Sky_Tracer

After the large trending and volatile moves yesterday, Nifty is expected to be range bound today. It is best to apply non directional strategies. However, I would advise to stay away from Nifty today totally. Tomorrow could be a trending day and it is best to play Nifty tomorrow.

Sky_Tracer

Those looking to trade Directionally today can avoid BN today. After the volatile moves today, BN is expected to be sideways for this expiry. Those who want to play non directionally can create some Strangles. Upper Range - 52,800 Lower Range - 51,200 BN would most likely expire in this range today.

Sky_Tracer

Nifty is holding the lower levels and showing a clear reversal signs. The buyers aren't allowing the sellers to take the price lower. I've taken a counter trend long position with a 2:1 risk reward view. Purely intraday basis as shown. This is a risky trade since this is counter trend. Not advisable. However, I have a gut feeling based on price action and hence...

Sky_Tracer

If the 2nd or 3rd 15 min candle engulfs the first candle completely, then it's a shorting opportunity on Nifty on intraday basis! Target is not more than 23,770. Watch closely.

Sky_Tracer

Nifty is super weak like BN. However, the downside in Nifty could possibly be restricted. Based on today mornings price action, the weakness can sustain till around 23,550 levels. I have taken a short position for target till 23,550. Will reassess once Target it hit. Nifty will have to be traded Level to Level. We would need to access price action at each zone.