Few observations for Nifty trading in followup of the last post-
1. Monday's close was below the SAR given of 5885 . Those who were short EOD, got a good trade upto the target S2 ,5795 (also apprx. 20dema) , mentioned in the Volume Profile chart in the last post.
2. Near 5795 level , compelling technical signals were there to take a long trade upto the SAR level . Please see the intraday chart below. Today's close is also below the SAR. Check the support levels given in the last post - Click here
3. For tomorrow's trade SAR of 5885 may be adhered to again and managed with a 20 point buffer . The 2d ,5d and 10d volume profiles are in tandem to justify it.
4. 5885 is also the approx. Important Trendline resistance being mentioned in the previous post.
5. Last three days of trade have been with Lower Highs and Lower Lows on Daily charts. but the Hourly charts are showing the higher lows pattern.
6. Taking a guess for the Expiry of the series, it may be above 5830 levels and below 6000 level . (5900 +/- 50)
Trade Light untill the range of 5740 - 5940 resolves on closing basis.
Dear Aarvee any update for today...
till it doesnt settles above 5885 ,no update is reqd.supports are mentioned in previous post.
Looks to settle below 5830 'as of now'for th expiry, but care should be taken if trades above it.bias is down below 5885.
That means we can trade our shorts from 5830 to 5880??
Actually i entered shorts @5845 today.A bit late.
since its an expiry day ,positions should be light.todays day trading is sum total of all monthly positions that are being squared off/rolled over.
intraday bias is up above 5830
and down below todays low.
shortterm bias down below 5885.
keep this in mind while trading.
u r getting apprx 45 points take it and can renter below todays low if u feel like or go long intra above 5830 with s/l for 20-30 points
Thanks Aarvee for yr guidence. i m one of yr fans.
Dear Aarvee, wht sud b the strategy for today. booking near 5745 and shorting again at break of it??Thanks.
I normally dont trade intraday except for entries and exit.
One can keep yesterday's close(5785) as SAR for today and trade. support comes at 200dma near 5745.and resistance above comes at 5830.
Thanks Aarvee.even i m only positional and having yesterdays shorts.
Dear Aarvee, as 5740 broken, when can i add to my shorts???
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