- rising wedge seen
- support 22000
July 11, 2020
July 10, 2020
No shame in taking losses
#MwmNuggets
— Madan (@madan_kumar) July 10, 2020
1/ I observe that new traders make each trade life or death. Too much emphasis on the current trade's outcome. It's just a profession of probabilities.
There is no shame in taking losses(small ones) - it's part of the job requirements to take MANY of them 😊
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
July 9, 2020
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
July 8, 2020
NIFTY EOD charts
- today nifty closed 0.9% in negative at 10706
- AD was 4:5
- VIX up 4% at 26
- support 10500
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 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
July 5, 2020
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