NIFTY :
We are at tough point. There is a channel support , which we could not break it today.
Its not easy to make a view currently. Ideally and Logically this is the buy point , buy at supports.
BUT,
I will dare to keep my bearish views ON. I will try to look for SHORT opportunities.
But why do I feel the lower trend line will get broken to downside ? And the fall will be quick and severe.
1 : Supports. Strong Support give a quick bounce. If prices cling near the support for long like today , it should get broken.
2. Volumes are peaking up. Usually a trend should reverse with dry volumes.
3. Daily MACD stays SELL.
4. Weekly we have identified a kangaroo tail limiting the upside to 5740 levels in coming weeks.
5. RSI is yet not near oversold zones.
6. The big fat premium in 5500CE is surprising me. The channel support might be the reason buyers keeping the premiums elevated. That's the only reason I say quick and severe fall. Because once down the line , the premium lifters run for cover , premiums evaporate within minutes and we are left with big fat long black candles.
5573 is a crucial point to watch. Horizontal line drawn at chart and its 13 Ema for 30 min timeframe.
A Gap up opening should spoil the sport as 30 min , macd has a given a bullish crossover. If this is not negated via a GAP down tomorrow , I will have to Drop my bearish views for trading tomorrow.
What if we open down ? Stay Full Throttle short with Stop Loss 5574.
Stock Pick :
Larsen and Tubro (LT)
I am eyeing to go SHORT on LT.
Smaller time frames as well as larger time frames both stay SELL.
If LT does not opens a gap down tomorrow opening and Nifty opens below 5573 , do not miss Shorting LT . Entry points I will try to post it live as I do locate them.
MARUTI : Looks bullish to me , but I will stay away from any fresh trade into it. It's in the middle of the channel plus macd signalling a flat sessions in coming time.
SS
We are at tough point. There is a channel support , which we could not break it today.
Its not easy to make a view currently. Ideally and Logically this is the buy point , buy at supports.
BUT,
I will dare to keep my bearish views ON. I will try to look for SHORT opportunities.
But why do I feel the lower trend line will get broken to downside ? And the fall will be quick and severe.
1 : Supports. Strong Support give a quick bounce. If prices cling near the support for long like today , it should get broken.
2. Volumes are peaking up. Usually a trend should reverse with dry volumes.
3. Daily MACD stays SELL.
4. Weekly we have identified a kangaroo tail limiting the upside to 5740 levels in coming weeks.
5. RSI is yet not near oversold zones.
6. The big fat premium in 5500CE is surprising me. The channel support might be the reason buyers keeping the premiums elevated. That's the only reason I say quick and severe fall. Because once down the line , the premium lifters run for cover , premiums evaporate within minutes and we are left with big fat long black candles.
5573 is a crucial point to watch. Horizontal line drawn at chart and its 13 Ema for 30 min timeframe.
A Gap up opening should spoil the sport as 30 min , macd has a given a bullish crossover. If this is not negated via a GAP down tomorrow , I will have to Drop my bearish views for trading tomorrow.
What if we open down ? Stay Full Throttle short with Stop Loss 5574.
Stock Pick :
Larsen and Tubro (LT)
I am eyeing to go SHORT on LT.
Smaller time frames as well as larger time frames both stay SELL.
If LT does not opens a gap down tomorrow opening and Nifty opens below 5573 , do not miss Shorting LT . Entry points I will try to post it live as I do locate them.
MARUTI : Looks bullish to me , but I will stay away from any fresh trade into it. It's in the middle of the channel plus macd signalling a flat sessions in coming time.
SS
Dear SS
ReplyDeleteI read ur reply u published on my comment. U seem to be a genuine trader who is serious about his business (trading).
BTW ur views are very informative and I m also learning frm them. I dont know whether I deserve to give u advice but here is 1 priceless thing - Never ego let overpower u. I m also experienced trader and trading since last few years and learnt that when we make huge money in market we start thinking that we command the market and thts where downtrend in portfolio starts. Market is such a great place where everyday u will learn something new thats very important than just making money.
Dear Well Wisher :
ReplyDeleteThanks Well Wisher jee. Your inputs will be my motivation.
I try my best , though my writings might reflect my ego or overconfidence , but trust me they are no where reflected in my trading. My all trades have STRICT STOP LOSS. I go restless without stop loss. A egoistic trader which is very likely losing money often misses placing SL.