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Nifty analysis - Welgro corner |
welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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Post: #106  Posted: Fri Jun 20, 2014 9:36 pm Post subject: |
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amitagg
Black Belt
Joined: 01 Oct 2013
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| Post: #107 Posted: Fri Jun 20, 2014 9:42 pm Post subject: |
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[quote="welgro"] | acharyams wrote: | update please
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Dear acharyams,
i has exit my nifty long (Stoploss hit)
market trading in range bound. my views still same which levels i posted in previous update.nifty spot if breach 7480 with volume then only we can decide the trend confirmation. nifty spot breakout in without volume then bear trap expected.[/quote
Since u have already posted adding in your thread that I expect the bear trap possibility and hence taking small short profit since past few days..... Be careful of shorting till budget which shall enable the bulls to offload more at higher levels...,, |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #108 Posted: Fri Jun 20, 2014 10:13 pm Post subject: |
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| amitagg wrote: |
Since u have already posted adding in your thread that I expect the bear trap possibility and hence taking small short profit since past few days..... Be careful of shorting till budget which shall enable the bulls to offload more at higher levels...,, |
Dear amitagg,
i am strictly following some trading rules.
Rule no 4: Every minute we can capture lot of analysis in charts.But Once your trading system generate stoploss please obey.because once you break this trading rule then you will loose 'trading discipline' consistently. |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #109 Posted: Sun Jun 22, 2014 10:17 am Post subject: |
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Nifty spot currently trades around 7515 level. Nifty spot still struggle to close below the “key support level” Since 06thjune 2014. What It’s witnessed us; all fresh longs (bulls) will maintain stop loss at below the “key support level”. Once Index if trade and close (Hourly) below the support level then we expected more “supply” in that level. We must to watch breakout candle volume for taking positional short decisions.
Nifty spot if breach and close below the support line with good breakout volume then nifty spot try to test previous swing lows 7360 and 7125 levels. Nifty June month contract highest open interest in 7600 calls (7188500).So 7600 level is strong resistance in nifty spot. Nifty spot once it close (EOD) above the 7620 (Rising wedge pattern negative breakout line pullback resistance) then bear trap (short covering rally) target 7780.
Important note: Nifty spot NR4 day. Nifty spot today’s close will be determine Nifty’s next positional trend up or down. |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #110 Posted: Mon Jun 23, 2014 7:03 pm Post subject: |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #111 Posted: Mon Jun 23, 2014 8:25 pm Post subject: |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #112 Posted: Tue Jun 24, 2014 10:01 am Post subject: |
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Last exit : nifty 7800 call jul 2014 contract last trade we exited at 88.00 level.
Today nifty spot high 7572.10 Once nifty spot breach 7575 then nifty 7800 call option july 2014 contract re-enter long at market price. |
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welgro
Brown Belt
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Posts: 1784
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| Post: #113 Posted: Tue Jun 24, 2014 10:55 am Post subject: |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #114 Posted: Tue Jun 24, 2014 5:44 pm Post subject: |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #115 Posted: Tue Jun 24, 2014 6:15 pm Post subject: |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #116 Posted: Wed Jun 25, 2014 5:19 pm Post subject: |
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| Banknifty Spot EOD : continued NR7 (4 days) !!! |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #117 Posted: Thu Jun 26, 2014 8:15 am Post subject: |
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NIFTY SPOT EOD
Inside bar + NR7 |
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #118 Posted: Mon Jun 30, 2014 7:37 am Post subject: |
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Currently nifty spot trade around 7508 levels. Weekly high was 7593.35, so option writers build a huge short positions (7, 11,100 Highest open interest change at last trading day) in 7600 call option. What it’s witnessed us; yes 7600 level is strong resistance. (EOD symmetrical triangle trend line resistance also this same level). Bulls kindly note this important thing, Nifty spot only strong up move when the nifty spot if trades above 7600 level ,Once nifty spot close(Hourly) above this level then we may see short covering rally up to 7840 level.
Last trading day as per EOD price action pattern analysis nifty spot formed inside day setup.
Nifty spot EOD chart positive breakout support and key support level was around 7480 level. Nifty spot hourly chart if close below this support level then bears will build fresh short positions we expected downside targets 7400, 7340 if breach this supports then maximum 7160 levels for downside .
Nifty Highest open interest change in 7000 put option (8, 14,850) what it’s witnessed us: Nifty spot strong support at 7000 levels as well highest open interest in 8000 call option (50,42,450) As per open interest analysis nifty range will be 7000 -8000 levels in current month contract. |
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welgro
Brown Belt
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Posts: 1784
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welgro
Brown Belt
Joined: 24 Sep 2012
Posts: 1784
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| Post: #120 Posted: Mon Jun 30, 2014 12:04 pm Post subject: |
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Nifty spot once if trade below 7585 then i plan to take short position.
with stop loss : 7603.00 |
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