In my yesterdays post [Link below] I had said
Even though the chart looks good, I have a bearish bias for tomorrow and Monday. This is mostly because the whipsaw we saw yesterday. If NIFTY manages to close above the new high by Monday, I’ll be wrong again.
I’ll not short, but mostly observe if it crosses 10850. I’ll short NIFTY below 10730.
Nothing changes in my view and I carry forward my view to Monday.
My trades
I did not trade today, as none of the levels I was watching were clearly broken.
Observations for the day
NIFTY sideways for the day, ultimately closed 0.42% down.
BANK NIFTY down 2.22%.
VIX mildly up 0.12%
Advance Decline ratio is 14 to 36, in line with negative closing.
Option data tilted for mild bearish bias.
Overall, NIFTY did not do badly because of Reliance. BANK NIFTY trend is near bearish, NIFTY sideways for near term. NIFTY’s consolidation can be an intermediate topping pattern or consolidation. It can be confirmed only when NIFTY closes below 10560 levels.
I’ll do a detailed post over the weekend on my next week’s view.
Have a great weekend ahead!
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My July 9 Post
Even though the chart looks good, I have a bearish bias for tomorrow and Monday. This is mostly because the whipsaw we saw yesterday. If NIFTY manages to close above the new high by Monday, I’ll be wrong again.
I’ll not short, but mostly observe if it crosses 10850. I’ll short NIFTY below 10730.
Nothing changes in my view and I carry forward my view to Monday.
My trades
I did not trade today, as none of the levels I was watching were clearly broken.
Observations for the day
NIFTY sideways for the day, ultimately closed 0.42% down.
BANK NIFTY down 2.22%.
VIX mildly up 0.12%
Advance Decline ratio is 14 to 36, in line with negative closing.
Option data tilted for mild bearish bias.
Overall, NIFTY did not do badly because of Reliance. BANK NIFTY trend is near bearish, NIFTY sideways for near term. NIFTY’s consolidation can be an intermediate topping pattern or consolidation. It can be confirmed only when NIFTY closes below 10560 levels.
I’ll do a detailed post over the weekend on my next week’s view.
Have a great weekend ahead!
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My July 9 Post
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.