Nifty EOD 6.10.2020
Normally I wait for NSE data EOD to be published before I express my views. But today I felt it's not necessary to wait. Story is as follows....
Nifty had bounced straight from last daily support having confluence in weekly support as I have been mentioning in my last all posts. Today, Nifty 50 showed courage to brake Daily long Trapped Resistance placed on 11617 and closed well above it. Weekly Significant level of 11460 had dominated on daily, as it should be always.
Now as the day is over, I must admit I have closed all naked longs today 3.20 PM. My neutral option position is still continuing.
It's time to be rational and proactive as the day is over....
Rally from bottom till now have had no real liquidity test till now.... That doesn't mean I am publishing bearish view... weekly has dominated over daily means, all is well for Nifty over a long run...
But there is a common behavior of nifty to have a liquidity test ... We must not rule out this......
So, any break above 11800 will be a breakout trade... and if nifty starts retracing, I will be searching a break inside trade.
I hope I am loud and clear....
Nifty had bounced straight from last daily support having confluence in weekly support as I have been mentioning in my last all posts. Today, Nifty 50 showed courage to brake Daily long Trapped Resistance placed on 11617 and closed well above it. Weekly Significant level of 11460 had dominated on daily, as it should be always.
Now as the day is over, I must admit I have closed all naked longs today 3.20 PM. My neutral option position is still continuing.
It's time to be rational and proactive as the day is over....
Rally from bottom till now have had no real liquidity test till now.... That doesn't mean I am publishing bearish view... weekly has dominated over daily means, all is well for Nifty over a long run...
But there is a common behavior of nifty to have a liquidity test ... We must not rule out this......
So, any break above 11800 will be a breakout trade... and if nifty starts retracing, I will be searching a break inside trade.
I hope I am loud and clear....
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