NIFTY50 - SELL AND RUN AWAY ?

2024년 5월 23일

Symbol - NIFTY50

CMP - 22960

NIFTY50 is following a rising channel & headed strongly towards its higher end. Currently It is trading near round level of 23000.

According to my analysis & my view, Nifty50 will face strong resistance around round level 23000 - 23100 which is also upper end of the rising channel.

I'm expecting Nifty to show a reversal from these levels & It may witness a strong profit booking. General Elections result is due on 4th June & because of this, INDIAVIX has shot up from 11-12 levels to 22 level. This is also hinting a reversal. If any negative news flow comes in coming week or on elections result day, We may see huge fall in Nifty50.

Hence I am creating huge short positions in Nifty50 June Futures at CMP 22960.

I will add more position between 23150 - 23250, if comes.

My SL would be 23400 & Targets I'm looking for are lower end of this channel which is around 22050 - 22120 & If it breaks this channel pattern on downside, We will see huge fall till 21000 easily (which is my second target) & beyond.

Risk is small here & Reward is huge. That's why taking more position than usual.
Not taking any position in options as May series options are expiring in 4 days & premiums of June series options are very very inflated.





Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!

2024년 5월 27일

액티브 트레이드

CMP 23100
Price touching upper end of rising channel, So adding some more quantity here.
Avg sell price now is 23032

I will add more quantity at 23250
Holding with strict SL 23400

2024년 5월 28일

액티브 트레이드

CMP 22888

144 points in profit.

2024년 5월 29일

액티브 트레이드

CMP 22695

Future position 337 points in profit.

2024년 5월 30일

액티브 트레이드

CMP 22570

462 points in profit. Holding with CTC SL now.

2024년 5월 30일

액티브 트레이드

CMP 22488

Future position 545 points in profit. Holding with Trailing SL.

2024년 6월 3일

매매 수동청산

Closed at 22570 with trailing SL.

2024년 6월 5일

거래청산: 타겟 닿음

Although I closed my position in 500 points profit with trailing SL (I closed before election results because I usually don't trade on big event days).

First target hit.
Second target missed by 250 points. I think it will hit second target as well in coming days!

2024년 6월 6일

액티브 트레이드

CMP 22865

This market recovery for me is another opportunity to create short positions.
RR is very favorable here to create short positions.
Hence I am shorting Nifty Futures again at CMP 22860
I will add more quantity at 23200 - 23250, If comes & hold with SL of 23340

2024년 6월 7일

액티브 트레이드

CMP 23250

Adding more quantity here.
Ave sell price now is 23055
Holding with 23400 strict SL.

2024년 6월 10일

액티브 트레이드

Nifty made a wick above 23400 on 5 min TF & witnessing heavy selling and corrected 150 points instantly.
I will exit my position if any candle (15 or 30 mins candle) is giving strong closing above 23400.

2024년 6월 12일

액티브 트레이드

Not giving any strong closing above 23400.
Every time it is touching 23400 zone, It is witnessing heavy selling.

2024년 6월 14일

거래청산: 스탑 닿음

Sustaining above 23420 for about 30 mins now. Hence Closing my trade here.
Booking 360 points loss.