Medium Term Trend: ↑ UP (Changes to down below 11050)
Strong Expiry : Nifty opened with a positive bias , just below 11500 levels and quickly moved on to 11600 levels. It traded between 11500-600 for most part of the day and closed at 11570 levels up 130 points.
Today inspite of expiry day, there wasn't too much volatility and Nifty quickly erased all the losses of yesterday. Like we have been guiding and advising, the near term trend for Nifty remains up and all dips could be utilised to enter long positions now.
We had changed the medium term trend of Nifty to 'up' when it closed at 11075 levels couple of weeks back and since then Nifty has gained 500+ points. Infact when Nifty was trading at 10800-700 levels we were continuously advising against going shorts and maintained our view that this was just a part of bottoming out process and Nifty could make some important bottom around these levels and head higher.
On monthly charts ( expiry to expiry) Nifty has gained around 600 points which is a very positive and bullish sign. Going forward, now since Nifty has already run up close to 1000 points from its recent lows so theres a chance of some consolidation around these levels. Its entirely possible that Nifty spend some time here and then move up or it may move a little more from here ( 300-400 points) and then start consolidating. In nutshell it will continue to move up and there is nothing on charts which is suggesting that Nifty wants to go down in a hurry. Tomorrow if chart change then our view will change as well but for now we continue to believe that Nifty is headed higher from here.
below is the snapshot of some of the messages/trades we executed and shared with our subscribers.
in last few weeks.
07/08/2019, 11:11 - : *nifty 10950 buy 2 parts*
23/08/2019, 09:47 - : Good morning. Nifty 10652. Buy 2 more parts
23/08/2019, 09:49 - : Hold with SL 10620 (Small sl)
23/08/2019, 10:33 - : *nifty 10755 book profit 2 parts long*
30/08/2019, 09:58 - : Trading around 11010. Keep holding longs, let volatility and consolidation (whatever little is remaining) play out. Post this consolidation we expect nifty to break much higher levels.
03/09/2019, 09:26 - : Good morning, nifty trading weak @10920 weak gdp data and iip numbers weighing heavily on mkts. Keep holding longs for now
06/09/2019, 09:55 - : *nifty 10892 sell 10800 PE @ 112*
06/09/2019, 09:56 - : Alternatively nifty long can be initiated at cmp @10890.
06/09/2019, 15:06 - : Njfty 10945. Less risky traders can book profits in long initiated today around 10890 or in 10800 pe. Else carry all long for next week.
09/09/2019, 09:50 - : Good morning, nifty trading around 10920. Keep holding all longs for now. Nothing to be done
09/09/2019, 10:08 - : *book profit nifty 10800 PE @cmp 77*
09/09/2019, 10:09 - : Nifty 10977.keep holding long nifty futures.
19/09/2019, 11:41 - : Nifty 10760, nothing to be done yet. Nifty might make a u turn soon
19/09/2019, 15:22 - : Nifty 10715.carry longs for Tomorrow
20/09/2019, 11:52 - : Nifty 11205, seeing an unprecedented rally. Up 500 points. It was long overdue though. Risky traders can book some part profit at these levels else continue to hold all 4 parts
20/09/2019, 15:03 - : Nifty 11280. Carry all longs for nifty
20/09/2019, 15:03 - : Less risky traders can do some part profit booking.
23/09/2019, 09:15 - : *nifty 11580 book profit 2 parts*
To join us for live whatsapp updates pls follow below link:
https://niftywaveindia.blogspot.com/2019/02/join-us-on-whatsapp-how-to-subscribe.html
Happy Trading!
Strong Expiry : Nifty opened with a positive bias , just below 11500 levels and quickly moved on to 11600 levels. It traded between 11500-600 for most part of the day and closed at 11570 levels up 130 points.
Today inspite of expiry day, there wasn't too much volatility and Nifty quickly erased all the losses of yesterday. Like we have been guiding and advising, the near term trend for Nifty remains up and all dips could be utilised to enter long positions now.
We had changed the medium term trend of Nifty to 'up' when it closed at 11075 levels couple of weeks back and since then Nifty has gained 500+ points. Infact when Nifty was trading at 10800-700 levels we were continuously advising against going shorts and maintained our view that this was just a part of bottoming out process and Nifty could make some important bottom around these levels and head higher.
On monthly charts ( expiry to expiry) Nifty has gained around 600 points which is a very positive and bullish sign. Going forward, now since Nifty has already run up close to 1000 points from its recent lows so theres a chance of some consolidation around these levels. Its entirely possible that Nifty spend some time here and then move up or it may move a little more from here ( 300-400 points) and then start consolidating. In nutshell it will continue to move up and there is nothing on charts which is suggesting that Nifty wants to go down in a hurry. Tomorrow if chart change then our view will change as well but for now we continue to believe that Nifty is headed higher from here.
below is the snapshot of some of the messages/trades we executed and shared with our subscribers.
in last few weeks.
07/08/2019, 11:11 - : *nifty 10950 buy 2 parts*
23/08/2019, 09:47 - : Good morning. Nifty 10652. Buy 2 more parts
23/08/2019, 09:49 - : Hold with SL 10620 (Small sl)
23/08/2019, 10:33 - : *nifty 10755 book profit 2 parts long*
30/08/2019, 09:58 - : Trading around 11010. Keep holding longs, let volatility and consolidation (whatever little is remaining) play out. Post this consolidation we expect nifty to break much higher levels.
03/09/2019, 09:26 - : Good morning, nifty trading weak @10920 weak gdp data and iip numbers weighing heavily on mkts. Keep holding longs for now
06/09/2019, 09:55 - : *nifty 10892 sell 10800 PE @ 112*
06/09/2019, 09:56 - : Alternatively nifty long can be initiated at cmp @10890.
06/09/2019, 15:06 - : Njfty 10945. Less risky traders can book profits in long initiated today around 10890 or in 10800 pe. Else carry all long for next week.
09/09/2019, 09:50 - : Good morning, nifty trading around 10920. Keep holding all longs for now. Nothing to be done
09/09/2019, 10:08 - : *book profit nifty 10800 PE @cmp 77*
09/09/2019, 10:09 - : Nifty 10977.keep holding long nifty futures.
19/09/2019, 11:41 - : Nifty 10760, nothing to be done yet. Nifty might make a u turn soon
19/09/2019, 15:22 - : Nifty 10715.carry longs for Tomorrow
20/09/2019, 11:52 - : Nifty 11205, seeing an unprecedented rally. Up 500 points. It was long overdue though. Risky traders can book some part profit at these levels else continue to hold all 4 parts
20/09/2019, 15:03 - : Nifty 11280. Carry all longs for nifty
20/09/2019, 15:03 - : Less risky traders can do some part profit booking.
23/09/2019, 09:15 - : *nifty 11580 book profit 2 parts*
To join us for live whatsapp updates pls follow below link:
https://niftywaveindia.blogspot.com/2019/02/join-us-on-whatsapp-how-to-subscribe.html
Happy Trading!
No comments:
Post a Comment