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Events that may have an impact on tomorrow’s open
1. Fed Chair speech at public event
2. Axis bank results -
3. Dow closing
Nifty has given head and shoulder break down below 19220 spot. if it fails to close above this level today , then we might see 18800 spot levels soon.
Читать полностью…Dow futures have cooled as china stimulus measures seemed to be insufficient. Hangseng which was up 2.6% in the morning is up only 1.1%
Читать полностью…BN failed to sustain above 43250 and now 43000 spot in danger for tomorrow.
Just a view , not a recommendation.
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On Wednesday, Nifty has closed below its 100 EMA on daily time frame and BN below its 200 Ema on daily timeframe. However, both FII and DII have been buyers in cash market with FII buying 6k cr plus in stock futures which indicates that lot of leveraged positions got squared off on break of 43600 on BN.
Post our market close, US 10Y bond yield recovered from 5% to 4.86% and crude has also come down to 88 USD. US is using its influence over Israel to delay ground invasion of Gaza which has led to short covering in US markets.
Price action wise 19380 now becomes an important resistance and 19220 an important support. Break of 19200 will take Nifty towards 18800 in next expiry. On BN, intraday it needs to sustain first above 43250 its 200 day EMA, to display some sort of stability. It needs to close above 43600 levels to make a move towards 43800 and 44000. Below 43000, prices will move towards 42750 and 42500.
Although fundamental factors have been positive, but for a trader price action is most important and Tuesday lot of blue chip stocks have broken their important levels which suggest that market is breaking down.
Today can be a choppy day with both bulls and bears. Bulls will try to leverage the fall in crude price and bond yield to negate Tuesday price action and bears will try to consolidate Tuesdays price action and further their hold over the markets
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Premiums movement is insane …
Spikes making premiums go 5 to 35 in no time.
Vix is low and gamma spikes are Killing. Not an ideal market for option selling.
Don’t know what will happen on the days when market will move V , M , N shape ??
https://x.com/aakankshalovely/status/1717119999632884172?s=52&t=swvTlMohEVeYxVhQdK9yXw
Читать полностью…Closing comments - Once Nifty broke 19200 and BN 43000, all attempts to reclaim the levels have failed. So close below 19200 we are heading towards 18800 and 42000 on Nifty and BN. View negated on one hourly close above 19333 and 43400
Читать полностью…bank nifty price action has trapped the put sellers , now every rise may get sold into.
Читать полностью…This every day expiries from last 2 months gave a little challenge to all positional traders. As their mindset was completely positional and this strategy worked for them like a magic in past and gave fortunes.
while intraday trading requires little different set-up that they need to work on.
But trading is all about evolving, Leaving obsolete concepts n learning new ones.
And those who have skills, they can shake a bit for a time being but will always SHINE brighter at the end.
Focus on what works for you and forget the rest.
Bulls tried their best but not able to take out 19380 nifty spot .Now 19200 in danger for tomorrow.
Just a view , not a recommendation
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