Trade Plan 29th Nov (Nov Expiry) :

NIFTY : What happened on Tuesday. A big bull run.
               I had a trade plan ,it was for short. Went in trash.
But why it missed . I can spot it , can you ?
Here is the daily Nifty chart posted on Sunday , the MACD cross possibility turned into a reality.
Crossover on daily time frames is a powerful event , has a potential to post bull days like Tuesday.
We kept the MACD cross possibility in background and went ahead with other details in short direction.

Chart we were considering till Sunday  :

But , we had the view NOT the traded positions.
Former is primary.

Whats NEXT ?

Lets see where are we , here is the Nifty Daily Chart.

I am expecting a Range :
5740- 5665
 When prices are near 5740 , a chance to shorts should be given for a smooth slide till the lower line of red channel ,5670 . SL 5741

When prices come near 5670 , a chance to longs should be given for a smooth upside till the upper end of red line .

Since the red channel is a falling channel , short side trades would reap better than longing in midst of the falling channel.

Both type of strategies should be in Sync with Daily MACD.
That is the exact reason I went SHORT with small quantity DEC series , respecting the RED channel.

What above 5740 ?

5740-5780 ( No trade Zone , No Nifty trades in this range)

Wait till we are above 5780 . If daily MACD clocks higher than horizontal line , GO LONG above 5780 with SL just below it.

If we clock above 5740 or even 5780 and take a dip below RED channel again , DONT MISS the slide , we might do a quick 100 point slide. In such possibility ,MACD should reverse before the horizontal line and inform us prior to the event via a negative divergence.

Between 5740 -5780, WAIT and WATCH.
If prices fall back INTO the RED CHANNEL , SHORT FULL THROTTLE.
If prices shoot up 5780 , Go LONG with SL below 5780.


Where is the Weekly Direction ?

The BEAR Kangaroo set up , had a tail with 5678 low and 5778 as high.
As per Alexander , perfect SL lies exactly in between of this tail.

Its 5733 Currently. Possibility is ALIVE.





If we slide down for Thursday and Friday not posting any high above 5735 , the bear setup should gain confidence.
Expect BEAR RULE in coming weeks is a POSSIBILITY.

History Says , DECEMBER month is ruled by the bulls. Weekly bearishness may sign off .
Technical Analysis is based on the fact History repeats.

Lets wait and see how things go ahead .

P.S.
Repeating My words : Having a trade plan ready and actually trading in real time are complete different things needing astronomically different skills. You may be a Albert Einstein overnight , but a Charlie Chaplin has equal rights to steal the show during trading hours.
All that matters is 9:15 am to 3:30 pm

SS