Daily Tryst with Nifty

[Sunil]

will be observing the same TL and 20SMA in 5min chart...
Closed yesterday right at TL & 20SMA

For effective +ve divergence, break of the latest pivot high at 4327 is required, which coincidentally is also the Classical Pivot for today. (4330)
This 4330 is also 38% retracement of the fall from 4440 high of Monday.
4330 is also around 5DMA value...

If in the opening hour, this level is tested, it becomes a potential neckline!!!

Stage set...
Right shoulder almost done

 

[MurAtt]

What a drop .....

Is the I-HnS negated?

 

[Sunil]

Rt Shoulder's low NEGATED

 

[MurAtt]

Now a HnS with Head to NL around 130-150 pts.
Am I right Sunil ( Sir )?
Cration over a period of 3 days

 

[MurAtt]

Negated ... broke above right shoulder

 

[Sunil]

This is the last trading week (3 more days) before the Budget Day on 6-July. Ideally, it should not be a big ranging week, and hence expecting range contraction in daily & weekly chart.
2 day swing is up, with SL at 4250
So, maybe a broader range of 4250-4450 till budget....

62% of the entire fall - around 4780 - remains the Laxman Rekha.
Let's see Straddles cost as week progresses...
As of now, cost of 4400 straddle (mid pt of 4700 & 4100) is around Rs 400/- :-(
(ie 4800 & 4000 as breakeven levels)

Buying Strangle for Budget:
4000 Put + 4600 Call

 

[lazytrader]

Try investbull its free:thumb:

Do you mean download the data EOD and check or do they provide intraday hourly charts free?

 

[WOD]

Buying Strangle for Budget:
4000 Put + 4600 Call

What is the ration you are maintaining between PE and CE ; is it PE:CE=2:1 or have buyed in equal quantity...

 

[MurAtt]

it will always be 1:1 WOD else it will not be called a Strangle.

Also if the ratios are different then actually u are leaning / have a bias to one side and the other is a sort of a hedge - get it.

 

[WOD]

it will always be 1:1 WOD else it will not be called a Strangle.

Also if the ratios are different then actually u are leaning / have a bias to one side and the other is a sort of a hedge - get it.

Thanks for that info; really appreciate that quick reply...

I am thinking of entering into 4000 PE and 4600 CE in ration of 2:1 ....how is the strategy by the way.....