Nifty trend

[Capricorn]

For 17-Jan

Bias no change

S @ 5630 , 5550-70 , 5500

R @ 5690 , 5730 , 5820

Trade well..

 

[Capricorn]

Above 5730 bias would be neutral..

5730-5890 no mans land.

S @ 5700 , 5660 , 5630 , 5580

R @ 5810 , 5870 , 5890 after 5890 the game changes.

Trade well.

 

[Capricorn]

I 've had queries about how to trade the levels I post ...

Here's how

Since bias is down we look for short trades.

Today's R mentioned was 5730 among others, so we look for patterns around this level and look what we got today.

Short Trade one was a triangle breakout covered at 5700 and short trade 2 was a flag at 5700 covered at 5666.

5700 and 5660 were supports mentioned.


Practice practice....

 

[Capricorn]

Levels for 20 Jan

R @ 5700 , 5730 , 5800, 5840.

S @ 5660 , 5620-40 , 5600 , 5575.

If We get an upward pattern break at 5730 we jump to 5800.

Trade well.

 

[timepass]

If We get an upward pattern break at 5730 we jump to 5800.

Yes !! and if we break 5800 we will head for all time highs and my 5700CE purchased at 57.05 today will give me 500% returns.. :clap:

Ummeed pe duniya kayam hai

 

[Capricorn]

The further we get away from 5730, the lesser the chances of a quick recovery.

 

[Capricorn]

Its here already 5730 :rofl:

Beaten back hastily but lets see how we close..

 

[Capricorn]

Dear Capricorn,

Your study gives a good account - but unable to deduce whether today the market was lifted by short covering or general trend - if you can throw some light. Morning
5700 ce oi exceeded 5700 puts - and 5700 reduced to 55lakhs and again increased to 65 lakhs

S.Venkatesh

Appears to be short covering but how does it matter??

Any way rollover is in progress so I don,t give much importance to pcr.

 

[Capricorn]

Short term bias up above 5750 then 5800 , 5850 , 5890 the final frontier.

S @ 5710 , 5665 , 5630.

Trade well.

 

[Capricorn]

Recap on todays trade...

Although bias was down nifty did not rally to our res.@ 5700 so no short

trade, but we got a channel break at our support zone 5620-40, so we are in

long at our next support @ 5660 and wind up the trade at 5700 our res. level.

I hope it helps u guys to understand the trade logic.