Trade Log NIFTY June 16
In my last post I had said
1. I still think it is a consolidation day. I do not have much bearish bias for tomorrow.
2. I think NIFTY is likely to touch the other end of range ~ 10000.
3. Depending on how it reacts near that level will decide the next course of action.
4. There was some congestion in the small range of 9788 - 9870. This is likely to be some low volume action, also occurred near end of the day.
5. 12th June candle is important ~ candle with large body ~ surprise candle. Close above 9972, bullish and close below 9545 is bearish . till then its consolidation inside the big candle.
Reviewing my readings for yesterday
It was a positive day. NIFTY did crossed above 10000 in the morning. NIFTY closed below 9972. So still in consolidation.
My trades today
1. I sold 10000 CALL when Opening range broke down. Then I covered the same as there was volatility spike.
Observations for the day
1. NIFTY closed 1.02% higher. And crossed 10000 level early in the morning. Later went down on news and recovered by EOD.
2. BANKNIFTY similar pattern, closed 1.93%.
3. VIX gained 1.19%.
4. Advance Decline ratio 24:26, not positive.
Some idea about tomorrow
1) Considering the volatile moves for last 3 sessions, I think we may have relatively calm market for next two sessions.
2) I maintain my bias , consolidation with little bullishness.
3) The current situation is NIFTY has formed support around 9600-9700 region. And it has multiple resistances from 10000-10300. The move from 10000-10300 will be choppy.
1. I still think it is a consolidation day. I do not have much bearish bias for tomorrow.
2. I think NIFTY is likely to touch the other end of range ~ 10000.
3. Depending on how it reacts near that level will decide the next course of action.
4. There was some congestion in the small range of 9788 - 9870. This is likely to be some low volume action, also occurred near end of the day.
5. 12th June candle is important ~ candle with large body ~ surprise candle. Close above 9972, bullish and close below 9545 is bearish . till then its consolidation inside the big candle.
Reviewing my readings for yesterday
It was a positive day. NIFTY did crossed above 10000 in the morning. NIFTY closed below 9972. So still in consolidation.
My trades today
1. I sold 10000 CALL when Opening range broke down. Then I covered the same as there was volatility spike.
Observations for the day
1. NIFTY closed 1.02% higher. And crossed 10000 level early in the morning. Later went down on news and recovered by EOD.
2. BANKNIFTY similar pattern, closed 1.93%.
3. VIX gained 1.19%.
4. Advance Decline ratio 24:26, not positive.
Some idea about tomorrow
1) Considering the volatile moves for last 3 sessions, I think we may have relatively calm market for next two sessions.
2) I maintain my bias , consolidation with little bullishness.
3) The current situation is NIFTY has formed support around 9600-9700 region. And it has multiple resistances from 10000-10300. The move from 10000-10300 will be choppy.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.