July 11, 2020

BANKNIFTY rising wedge

- trend is up
- rising wedge seen
- support 22000


July 10, 2020

No shame in taking losses


NIFTY intraday charts

5 min


NIFTY EOD charts

- today nifty closed 0.4% in negative at 10768
- AD was 1:2

- doji formed (open = close)

- this entire week, nifty traded within 150 points range

- another small rising wedge developing since JUN
- break of 10500 will be confirmation


Perfectly amazing mental malfunction

July 9, 2020

NIFTY intraday charts

5 min:

NIFTY EOD charts

- nifty closed 1% in positive at 10813
- AD was 5:4
- VIX dropped 4% to 25

- inside day formed
- markets rangebound for past 4 days


BANKNIFTY intraday charts

5 min:


July 8, 2020

Stocks at 52 week high

BRITANNIA

BRITANNIA chart

NIFTY intraday charts

5 min:

NIFTY EOD charts

- today nifty closed 0.9% in negative at 10706
- AD was 4:5
- VIX up 4% at 26

- support 10500


It all boils down to probability

Image

NIFTY intraday charts

5 min charts

NIFTY EOD charts

- trend is up
- small hanging man formed
- support 10500... will consider reversal only below this

- only problem is flat AD
- PE at 28+
- unless there is a huge jump in EPS, current market is too expensive


July 6, 2020

NIFTY intraday charts

5 min charts:

NIFTY EOD charts

- trend is up on daily charts
- today nifty closed 1.5% in positive at 10764
- AD was 3:2

- close is slightly above/ outside the rising wedge
- I am close to discarding this wedge as it is "going on too long" and
- breakdown should have happened by now

- however past 3 trading days, nifty has gained 330 points
- most gains were overnight/ due to gap up
- but after market open, trading range was very limited


Correction over? Maybe



HDFCBANK rising wedge


ITC rising wedge