Update - 17th July closing levels
Stop loss for the shorts triggered above 10900... Really, Bull hai ke maanta nahin.... Ha ha ha...
Stop loss for the shorts triggered above 10900... Really, Bull hai ke maanta nahin.... Ha ha ha...
Wednesday, July 15, 2020
#MarketUpdate - Tere Bina bhi Kya Jeena . . . Lol ! ! !
Commerce Graduate with more than decade and half years of experience in capital markets
Monday, July 13, 2020
#MarketUpdate - Yeh Bull Hai ke maanta nahin.... BUT . . . ! ! !
Update 15th July 2020 after closing...
Nifty, after opening with gap up, gave off all the gains after taking resistance near 10820-30 mark.
The existing short trade trailing stop loss is held and one can expect it to stick to the levels mentioned earlier...
Update 15th July 2020 9.50 AM...
After taking support near 10550 levels, Nifty gave a strong gap up opening and currently trades at 10730... The gap is a professional gap, and hence yesterday's low would act as strong support. Also, 10600 and 10500 Puts have added a lot of OI suggesting they would act as supports going forward.
On the higher side, 10760-70-10820-10860 are the key levels to watch for. Also 10800 Calls have the highest OI suggesting that level to act as immediate resistance.
For the existing overnight short trade trailing stops can be placed above the resistances mentioned above. Aggressive traders can think of sell on rise with stops above the recent high of 10900 or 11k levels based on own's risk appetite.
Intraday traders can look for short (after a bearish confirmation) with stops above 10770 / 10825...
Cheers...
Hrishi
Nifty, after opening with gap up, gave off all the gains after taking resistance near 10820-30 mark.
The existing short trade trailing stop loss is held and one can expect it to stick to the levels mentioned earlier...
Update 15th July 2020 9.50 AM...
After taking support near 10550 levels, Nifty gave a strong gap up opening and currently trades at 10730... The gap is a professional gap, and hence yesterday's low would act as strong support. Also, 10600 and 10500 Puts have added a lot of OI suggesting they would act as supports going forward.
On the higher side, 10760-70-10820-10860 are the key levels to watch for. Also 10800 Calls have the highest OI suggesting that level to act as immediate resistance.
For the existing overnight short trade trailing stops can be placed above the resistances mentioned above. Aggressive traders can think of sell on rise with stops above the recent high of 10900 or 11k levels based on own's risk appetite.
Intraday traders can look for short (after a bearish confirmation) with stops above 10770 / 10825...
Cheers...
Hrishi
Commerce Graduate with more than decade and half years of experience in capital markets
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