Jun22-W1: Nifty to give green shoots? (May30 to Jun4)

アップデート済

What I said last week was that consolidation is unavoidable. This is what happened during the week except for Friday when Nifty broke the 4-day range to go up.

Now the following is my analysis for coming week:

With the rising momentum, Nifty is all set to break the previous swing high of 16414.70. The rise can continue till 16650. This level will mark completion of the gap created between May 5 and May 6. This much I know. However, the next move is a mystery. Further upside should face resistance from the red channel. The move to 15550 will take some time though.

Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…

Consolidation -Between 16650 and 16150
Downtrend - If breach below 16150; to drop somewhere till 15650
Uptrend - If breach above 16650; to rise somewhere till 16950

I don’t think Russia ever estimated Ukraine war to last this long. There are a lot of guns everywhere. Where are the roses?

DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.

手動でトレードを終了しました

For the first week of June, I had predicted that Nifty would go until 16450. However, the target was hit on Monday itself. I was carrying with me a bad position in form of 16850 CE. This obviously went deep red on Monday opening.

I deployed my usual strategy of selling ITM options for averaging. I thought I was averaging slowly and steadily. I was not using my home-made calculator though. Later, I found that I had sold too many ITM options too soon. Now my overall P&L was in loss of more than Rs. 1 lakh. I could not do anything as I had exhausted my funds.

There was no choice but to carry forward the problem to Tuesday. Luckily, Tuesday was a gap-down opening and I exited all positions at minimal loss. The rest of the week was consolidation which helped me in earning 1% for the week.

But I am still useless without my excel calculators. I must use them daily.

Net Profit (after deducting brokerage): 18013.94
Capital deployed (approx): 17,50,000
Week’s ROI: 1.03%
Total no. of weeks traded till today: 8
Average weekly return till today: 2.01%

DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.