December 5, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.2% in negative at 12018
- AD was 4:5

- VIX was volatile... up 12% one time, it closed marginally in negative
- VIX has been volatile past few days

- today was weekly expiry day
- as expected, this happened between 12000 and 12100

- bias is bullish for next week with 12000 expected to hold

RBI forecasts ...

You need a probabilistic mindset

Image

December 4, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.4% in positive at 12043
- AD was 5:4

- VIX down 9%

- highest OI at 12000PE followed by 12100 CE
- difference is not much so bias can be neutral
- all positions are hedged in both directions

NIFTY PE chart

December 3, 2019

Market outook

Daily charts:
- trend is up on daily charts
- today nifty closed at 0.4% in negative at 11994
- AD was 1:2 (not bad)

- swing low 11800

- option writing resistance 12100

December 2, 2019

NIFTY open interest analysis

- support 12000
- resistance 12100

- rangebound trading likely this week?

December 1, 2019

NIFTY monthly chart

- trend is up
- support 10000

- rising wedge seen
- resistance 12300
- rising wedges are bearish

- cumulative market breadth disappoints

- this month bullish candle was the smallest in 3 months

- 11800 is the key level

- option writers are bullish that 12000 will not break
- let's see

- nifty PE around 28+... big red flag

BANK NIFTY monthly charts

- trend is up
- support 26000

- lot of up down movement in 2 years
- what this mean?

Don't memorize patterns, candlesticks, and etc