STOCK PICK : Sooner the later I will be trading RELINFRA (Feb Contracts) , will update as soon as I have the trade plan ready.
NIFTY : This is the most toughest index to trade currently. I am failing to get to a conclusion where we are heading to . I banged my head digging several time frame charts and the picture is utmost confusing every where.
Daily Charts : MACD is posting Negative Divergence.
Channel Wise : We are super bullish trading above all major ema's.
Weekly Charts : Last week we ended with a hanging man candlestick (bullish reversal) and just respecting a very long term black channel (shown in chart). Weekly MACD is ultra-bullish and other channels , horizontal supports are set to make the ticks higher.
It usually ends up with a bad trade attempting to diagnose the movement in the middle of the channel.
I am not willing to trade Nifty. May be traders who have different set of trading techniques stand a better chance of speculating the consensus direction.
6055 stands as 5 ema in daily charts and macd there is SLIGHTLY in favor of bear's .
If prices start ticking below 6055 , I would attempt to give a close encounter shot ,of FEBRUARY contracts with tight stops.
Why ? Because in daily charts , there is a black channel (very long term) . If prices fall back into it , a attempt is all worth for a bear market in near future. Don't want to miss the sail sitting at shore. If the tickets are cheap enough , why not take one.
JAN in the money contracts lures , but I am not comfortable to digest such volatile ticks in such event full environment and without a clear view of direction.
Pertaining to big event on Tuesday , Stop Losses should be very tight. Any overnight positions will again prove the idiot in you.
SS
NIFTY : This is the most toughest index to trade currently. I am failing to get to a conclusion where we are heading to . I banged my head digging several time frame charts and the picture is utmost confusing every where.
Daily Charts : MACD is posting Negative Divergence.
Channel Wise : We are super bullish trading above all major ema's.
Weekly Charts : Last week we ended with a hanging man candlestick (bullish reversal) and just respecting a very long term black channel (shown in chart). Weekly MACD is ultra-bullish and other channels , horizontal supports are set to make the ticks higher.
It usually ends up with a bad trade attempting to diagnose the movement in the middle of the channel.
I am not willing to trade Nifty. May be traders who have different set of trading techniques stand a better chance of speculating the consensus direction.
6055 stands as 5 ema in daily charts and macd there is SLIGHTLY in favor of bear's .
If prices start ticking below 6055 , I would attempt to give a close encounter shot ,of FEBRUARY contracts with tight stops.
Why ? Because in daily charts , there is a black channel (very long term) . If prices fall back into it , a attempt is all worth for a bear market in near future. Don't want to miss the sail sitting at shore. If the tickets are cheap enough , why not take one.
JAN in the money contracts lures , but I am not comfortable to digest such volatile ticks in such event full environment and without a clear view of direction.
Pertaining to big event on Tuesday , Stop Losses should be very tight. Any overnight positions will again prove the idiot in you.
SS
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