Nifty: At crucial juncture & trading strategy
Nifty
- RBI policy is out
- Repo rate increased by 0.5%
A not so good News but has the bad news been factored in. Only time will tell
Let us look at the charts and see if we can get some cues to trade
On weekly charts Nifty closed at 16356 on 27 May
I consider that level as important because it was a weekly close and at the same time next week opened with a big gap up.
If Nifty holds on to these levels then it would mean that Nifty came down just to fill the gap and possibly known bad news is factored in.
Coming to Data Analysis
Put Call Ratio is at 0.69 (which reflects oversold condition and also tendency for retail participants to change their trading behavior)
Last time I was not so bullish, now Given the chart set up and data points, I am not so bearish from here on.
My trading strategy gives me a profit yield potential of 7.5% on Margin requirement as well as gives me protection for a fall up to 15690 till 30 June expiry giving me ample scope to adjust / exit with minimum damage, if my view gets invalidated.
For Directional trade...
Momentum on the upside might come in above 16415
On the downside I would be skeptical if Nifty closing is below 16255 as below that doors could open up for further fall up to 15900.
To trade with me do hit the Like button & Follow me
Take care & safe trading....!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- RBI policy is out
- Repo rate increased by 0.5%
A not so good News but has the bad news been factored in. Only time will tell
Let us look at the charts and see if we can get some cues to trade
On weekly charts Nifty closed at 16356 on 27 May
I consider that level as important because it was a weekly close and at the same time next week opened with a big gap up.
If Nifty holds on to these levels then it would mean that Nifty came down just to fill the gap and possibly known bad news is factored in.
Coming to Data Analysis
Put Call Ratio is at 0.69 (which reflects oversold condition and also tendency for retail participants to change their trading behavior)
Last time I was not so bullish, now Given the chart set up and data points, I am not so bearish from here on.
My trading strategy gives me a profit yield potential of 7.5% on Margin requirement as well as gives me protection for a fall up to 15690 till 30 June expiry giving me ample scope to adjust / exit with minimum damage, if my view gets invalidated.
For Directional trade...
Momentum on the upside might come in above 16415
On the downside I would be skeptical if Nifty closing is below 16255 as below that doors could open up for further fall up to 15900.
To trade with me do hit the Like button & Follow me
Take care & safe trading....!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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