In my trade log dated June 18, I had said
1. Considering today's bullish day, there are two most probable possibilities. One, consolidation around 10100-10150. The other being the one more positive day tomorrow.
2. Tomorrow is Friday, so we can have q strong move. Since current trend is positive, the move can be assumed on the upside.
Today my anticipation of strong up move was proved correct.
My trades today.
1. As bias was up, I bought 10100 CALL on crossing previous day high, and closed it end of day.
My observations for the day
1. NIFTY closed positive 1.51%. Breakout yesterday confirmed. NIFTY also closed at high which was the level around March 11.
2. BANKNIFTY closed positive 1.82%.
3. VIX down 4.74%
4. Advance decline ratio is 1277 to 522 for broader market. And 33 to 16 for NSE. This is not as positive as yesterday. Gains mostly because of reliance and Bajaj twins.
5. Option data suggesting range 9900 - 10500.
6. FII inflows positive.
Overall trend in NIFTY is on monthly - bearish, weekly - sideways and daily - bullish. This is kind of situation where one has to trade carefully,
1. All three trends are different
2. VIX is settling in the region of 30. This will ensure we see volatile moves.
Overall I have closed all my long positions and only taking 10000/9900 Debit Put Spread for the weekend. I'll post my detailed weekly view over the weekend. Have a nice weekend!
Yesterday's post
My last weeks view
1. Considering today's bullish day, there are two most probable possibilities. One, consolidation around 10100-10150. The other being the one more positive day tomorrow.
2. Tomorrow is Friday, so we can have q strong move. Since current trend is positive, the move can be assumed on the upside.
Today my anticipation of strong up move was proved correct.
My trades today.
1. As bias was up, I bought 10100 CALL on crossing previous day high, and closed it end of day.
My observations for the day
1. NIFTY closed positive 1.51%. Breakout yesterday confirmed. NIFTY also closed at high which was the level around March 11.
2. BANKNIFTY closed positive 1.82%.
3. VIX down 4.74%
4. Advance decline ratio is 1277 to 522 for broader market. And 33 to 16 for NSE. This is not as positive as yesterday. Gains mostly because of reliance and Bajaj twins.
5. Option data suggesting range 9900 - 10500.
6. FII inflows positive.
Overall trend in NIFTY is on monthly - bearish, weekly - sideways and daily - bullish. This is kind of situation where one has to trade carefully,
1. All three trends are different
2. VIX is settling in the region of 30. This will ensure we see volatile moves.
Overall I have closed all my long positions and only taking 10000/9900 Debit Put Spread for the weekend. I'll post my detailed weekly view over the weekend. Have a nice weekend!
Yesterday's post
