Few Pointers..on the Black Line
Aktualisiert
Before we start, do you notice any news outlet talking about COVID recently ?? :)
Back to the idea now. Tomorrow's expiry, so expect some volatility. Lots of options will go worthless as usual..
The chart set up is exactly same as my previous post.
The Black Line - Why it's interesting ?
Support line for 2022 - This trading year, Nifty closed above this line everyday, except for last Thursday.
Resistance line for 2021 - The line acted as a resistance in 2021 (last quarter)
4 trading days ago(last Thursday), the index ended below the black line.
Last 3 trading days, Nifty opened below this line, but smartly ended above this line, all 3 times.
So, it does make some sense to track Nifty's movement around this line, and use the line as a SL.
My suggestion:
Go long above this line, but keep the line as SL
Short below this line, but keep the line as SL
The trading range is 16400 - 16985.
Now Thursday's closing below the line, I don't want to see it as an anomaly yet, I see it more of a hint of what's going to come in future, that the support will be tested again and eventually broken. Not sure when..
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- 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
Back to the idea now. Tomorrow's expiry, so expect some volatility. Lots of options will go worthless as usual..
The chart set up is exactly same as my previous post.
The Black Line - Why it's interesting ?
Support line for 2022 - This trading year, Nifty closed above this line everyday, except for last Thursday.
Resistance line for 2021 - The line acted as a resistance in 2021 (last quarter)
4 trading days ago(last Thursday), the index ended below the black line.
Last 3 trading days, Nifty opened below this line, but smartly ended above this line, all 3 times.
So, it does make some sense to track Nifty's movement around this line, and use the line as a SL.
My suggestion:
Go long above this line, but keep the line as SL
Short below this line, but keep the line as SL
The trading range is 16400 - 16985.
Now Thursday's closing below the line, I don't want to see it as an anomaly yet, I see it more of a hint of what's going to come in future, that the support will be tested again and eventually broken. Not sure when..
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- 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
Anmerkung
Nifty might see 16530 today. so a 100 point down ride from now.Anmerkung
or may be till 16550 at the least..Anmerkung
it touched 16563. i guess that may be it..Anmerkung
16548 - it's time to go long. keep 16530 as SL. Targets 16596 for starters, then 16616.Anmerkung
looks like 16400 coming up..Anmerkung
16540 when posted..just fr record..Anmerkung
indec at 16463. exit short fully or partially. have a good stop in case you're still short.Anmerkung
Day ends. So, 2nd time in the year, the black line's breached.We may see 16400 tomorrow..almost sure of it guys.
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