I will be henceforth posting my stock market thoughts and views at https://twitter.com/vfmdirect
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June 4, 2020
June 3, 2020
Market outlook
Due to some problems with blogger, I am posting my comments as a single thread in twitter.
Link for today's post is https://twitter.com/vfmdirect/status/1268182013456113664
If this works well, I will post everything in twitter and stop using blogger.
My twitter address is https://twitter.com/vfmdirect
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June 2, 2020
Buy signal on NIFTY index
- signal on kplswing indicator
- the last 2 signals (long and short) failed
- this signal will fail on close below 9500 or trailing 5 bar low
- whatever indicator you use, expect this to fail half the time
- so keep SL tight and let positions run as long as possible
June 1, 2020
Market outlook
Daily charts:
- nifty is trading sideways and is now at upper end of trading range
- today nifty opened gapup and closed 2.6% in positive at 9826
- AD was 5:1
- good level for contra traders to be short
- you are very close to SL (10000)
- I am not a positional trader in nifty
May 31, 2020
NIFTY monthly charts
- trend is down
- this month, nifty closed flat and has formed a doji
- all activity was within body of prev month bar
- resistance 10000
NIFTY weekly charts
- this week, nifty closed 7% in positive
- this is 2nd time, nifty has managed a close above 9500
- the first time it happened, nifty sold off the next week
- stiff resistance around 10000
BANKNIFTY technicals
- trend is down
- resistance 20000 support 16000
- this week closing was above prev week high
May 29, 2020
Market outlook
Daily charts:
- markets are rangebound
- today nifty closed 1% in positive at 9580
- AD was 2:1
- discount on nifty futures increased to 100 points at close
- this is something I have seen after a very long time
- a high discount means long positions in stocks are hedged with short position in futures
- low chance of markets falling from here... just a guess
May 28, 2020
Market outlook
Daily charts:
- trend is sideways
- both long and short signals have failed
- this is normal after a huge move
- today market closed 2% in positive at 9490
- AD was 2:1
- my rules for any indicator based trade /market are simple
- trade the signal but keep SL around or 5 bar low (for a long signal and vice versa)
- this keeps losses small and at same time helps ride the range.
- above works for any timeframe say 5 min, 15 min or daily or weekly charts etc
May 27, 2020
Market outlook + options range
Daily charts:
- market is rangebound on daily charts
- till yesterday, I mentioned the trend as down
- with today's move, the SL of 9300 is gone
- you are of course, free to consider any other appropriate SL
- for eg, another good SL could be 9500
- today markets closed 3% in positive at 9315
- AD was 3:2
- on weekly charts, a higher high higher low is already forming
- above view is valid till weekly low does not break (8800)
kplswing signal
Options range
New to the markets?
If you are a Beginner,— Trade With Trend (@ST_PYI) May 26, 2020
1) In Day Trading, never Buy a Stock below 20 DMA,
2) In Swing Trading, never Buy if Stock is below 50 DMA,
3) In Positional Trading, check if Stock is above 200 DMA.
By following these Simple Rules, you will end up saving lot of money over time.
May 26, 2020
Market outlook
Daily charts:
- trend is down on daily charts
- today nifty closed flat at 9029
- AD was flat
- see big red of 18-MAY
- nifty trading within that range for 5th consecutive day
- despite such narrow range, there have been very good intraday opportunities
- note that almost every gapup this month is being sold into
- this provides good ideas for short trades intraday
- trading above 9180-9200 spot will be bullish
- deep support 8500
- trend is down on daily charts
- today nifty closed flat at 9029
- AD was flat
- see big red of 18-MAY
- nifty trading within that range for 5th consecutive day
- despite such narrow range, there have been very good intraday opportunities
- note that almost every gapup this month is being sold into
- this provides good ideas for short trades intraday
- trading above 9180-9200 spot will be bullish
- deep support 8500
May 25, 2020
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