Trade Day 05.08.2020

If social media is to be believed, today was a hard day for both option writers and option buyers. The price action moved with aplomb in both directions, mowing down stoplosses rather hungrily. Choppiness is evident in the charts; no doubt about it. The upcoming RBI policy meet has brought in some profit booking in …

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Trade Day 04.08.2020

A good trending day from both indices, and to my relief, some decent pattern emergence once again from the charts. The price action in both indices bounced from the support zones made in previous trading sessions, confirming that the uptrend is still intact, at least for now. The Nifty has made a decisive close above …

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Trade Day 03.08.2020

The day opened with a large red candle, signalling another bearish day. Both indices showed a downtrend, though the Nifty had more volatility. I was happy to see some pattern in today's chart, which seemed missing over some sessions, with so many gap ups and severe volatility within tight ranges. On the 1D timeframe, the …

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Trade Day 31.07.2020

A day of consolidation after yesterday's fall. The day opened with huge red bearish 1st candles for both indices, and the price action remained within this range for the rest of the day. In addition, for the Nifty, there was filling of the gap created on 20th July. Choppiness is evident in both charts. India …

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Trade Day 30.07.2020 (monthly expiry)

Both indices showed a good selloff today, which seemed quite a likely event, because the Nifty seems to have approached a major resistance as mentioned yesterday. Despite this, on a higher timeframe, it appears the uptrend has not been breached as of now. So this corrective phase seems to be a paring off of some …

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Trade Day 29.07.2020

The Nifty50 has experienced a lot of choppiness today. The price action entered some correction today, but even with the slight fall, the index continues to take support at the moving averages on the larger timeframe. For now it appears the trend is intact. As an important zone, the price action is approaching a gap …

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Trade Day 28.07.2020

Finally a breakout on the Nifty. At every point I expected some failure of the breakout, especially during the consolidation in the early afternoon once the price action crossed the previous week's and day's highs; but it seems to have sustained this level to close at last above the daily R2, just at the 11300 …

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Trade Day 27.07.2020

Nifty continues to consolidate within a tight range of previous highs and lows. The BankNifty has shown a downtrend, breaking the previous weekly low level, and the intraday chart is showing bearishness. India VIX for today: 25.02 (+0.48 / 1.97%) Check out the charts -- Nifty range: 11221.95 to 11143.15 (79 pts)Bank Nifty range: 22652.40 …

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Trade Day 24.07.2020

Another range-bound, but choppy day. The Nifty stayed mostly within the range of the previous two days, showing continual contraction (in fact, the 1D timeframe shows that today's candle is completely enveloped by yesterday's candle, and yesterday's candle is enveloped by that of the day before). The price action has tested the 11090 levels twice, …

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Trade Day 23.07.2020 (weekly expiry)

Another quiet session. The indices traded within yesterday's range with a slight upward bias. Nifty tested a new supply zone created by yesterday's huge red opening candle, while the BankNifty tested an old supply zone level created on July 8th. India VIX for today: 24.64 (−0.25 / -0.98%) Check out the charts -- Nifty range: …

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