NIFTY wekly charts

- trend is up
- support 11500-11000
- resistance 12000

- PE at 29+ is a cause of concern
- poor breadth is also a cause of concern

BANKNIFTY technicals

- trend is down on daily charts
- some people may look at 30000 as a more important support compared to 30500
- this is ok as long as you are consistent

- resistance 32000

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.45% in negative at 11789
- AD was flat

- note that weekly close was below 11800
- I was hopeful of a nice close above prev week's high

- option writing support 11500 resistance 12000

- testing new intraday strategy in SBIN (cash).. will post results after a month

When you get stuck with illiquid assets

View bigger at http://alphaideas.in/wp-content/uploads/2019/06/IMG-20190628-WA0004.jpg

Revised F&O lot sizes

Source: Twitter

Cox & Kings defaults on payments of Rs.150 crore

Source: https://www.livemint.com/companies/news/cox-kings-defaults-on-payments-of-rs-150-crore-1561654567340.html

Till last year every other middle class Indian was going abroad for foreign vacation as Indian GPD has to become 2 nd in world and  discretionary expenditure was rising.
Research house was advising their client to buy stock on that theme.
Share of  #CoxandKings tells otherwise.

— Zafar (@Maaachaaa69) June 14, 2019

But the charts showed there was a problem long time ago... from JAN 2018 to be precise.

Almanac of a 100% options buyer

Almanac of a 100% options buyer : 

As many of you know, I am an options buyer. I never sell naked options. Nothing wrong with naked selling, it's simply that I do not have that level of knowledge or is comfortable doing so (1/n)

— Subhadip Nandy (@SubhadipNandy) June 1, 2018

On reading chart patterns... nice thread by @SubhadipNandy

I see a lot of traders following classical chart patterns . Being a pattern follower myself for some years , here is my advice to them as I feel some pointers will improve their accuracy . Again , this is not the only correct way but what I have learnt from my experiences

1. Volume confirmation is a must. Without the volume rules being fulfilled , there is no importance to the pattern

2. Understand where the pattern is taking place within the major price structure of the index/stock. An inverse head and shoulders bottom reversal occurs at market bottoms , not at market tops

3. If a pattern is valid, it will leap out at you from the computer screen

Read more at https://threadreaderapp.com/thread/996619500840632320.html

Market outlook

Daily charts:
- trend is down on daily charts
- today markets closed flat at 11841
- AD was 10:7

- there was no follow thru buying to Wed close
- on the other hand we had selling at higher levels
- on the plus side, today was 2nd consecutive close above 11800
- tomorrow is last day of week and month

NSE Advance Decline Line Chart

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.4% in positive at 11847
- AD was 10:7

How banking and economics works - DRINK now pay LATER

Mary is the proprietor of a bar. She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronise her bar.

To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans) 

Word gets around about Mary's "drink now, pay later" marketing strategy and, as a result, increasing numbers of customers flood into Mary's bar. Soon she has the largest sales volume for any bar in the area. By providing her customers' freedom from immediate payment demands, Mary gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages. Consequently, Mary's gross sales volume increases massively

The world is full of obvious things which nobody ever observes

Uninfluential people whose aggregate actions are enormously influential. 

If you manage a $50 billion hedge fund you will be called a market maven and your investment actions will be viewed with rapt attention when analyzed on CNBC. If you are unassuming Steve from Boeing’s accounts receivable department who invests in a $401(k) plan, no one will pay any attention to you, because poor Steve has no investing influence. But Boeing’s 401(k) plan manages $51 billion, made up almost entirely of people like Steve from accounts receivable. They self-direct their investments, both the allocation and the timing of that allocation. That gives them more trading influence than the $50 billion hedge fund manager, whose supposed influence stems from the ease of focusing on one well-dressed person rather than 85,000 Steves.

It is obvious that an army of Steves has more direct investing influence than any single fund manager. But they escape your attention because Steve by himself makes no difference.

The same is true in elections, consumer spending, and cultural trends: It is easy to underestimate the collective influence of tons of otherwise uninfluential people.

This is partly why the market has performed so well while so many macro investors predicted doom.

Read more at https://www.collaborativefund.com/blog/obvious-things-that-easily-escape-attention/

Price action trading... nice by @ForNifty

Trade 1: +22
Trade 2: +4
Trade 3: +22
Trade 4: +19
Trade 5: -6
Trade 6: +15#DayTrading #Nifty #OptionsTrading #PriceActionTrading #NakedTrading pic.twitter.com/7tF1exdagC

— Nifty For Living (@ForNifty) June 25, 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.8% in positive at 11796
- AD was flat.. why?

- last 5 days nifty is trading in a range

- intraday trade: short 11700 CE cmp 47 and 11600 PE cmp 30... (total 77) .. stopped out at 85.



5 min charts:

Unemployment problem solved by McDonalds?

Every new McDonald outlet creates at least 50 jobs -

10 Cardiologists, 10 Dentists, 10 weight loss experts apart from people working in McDonald outlet.

— Vijay Pahwa (@Wealth_Park) June 23, 2019

How much should you spend on your wedding? Interesting thread

Seeking experts here.
How much money should be spent as a % of your net worth on your own wedding?

Pls respond on the comments and share your views in the thread.@dmuthuk @position_trader @RichifyMeClub @FI_InvestIndia @Sanjay__Bakshi @morganhousel @paraschopra @Gautam__Baid

— Niraj (@Niraj_dugar) June 24, 2019

NIFTY expiry view

This chart will give a hint on whats Nifty upto till expiry

11700 CE and PE  OI

Their crossover will be bearish; if they go further apart..bullish pic.twitter.com/UuIzXDgGIs

— AP (@ap_pune) June 24, 2019

Visit the thread for more details/ explanations.

Who are hawks?

Hawks are low-intellect, low-experience, low-skills people; if laid off, unusable in real-life, not even to wash you car.
The absence of the #skininthegame filtering degrades decision-making. https://t.co/YyFgKFzrNc

— Nassim Nicholas Taleb (@nntaleb) June 24, 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.2% in negative at 11699
- AD was 7:10

- trades today: short intraday 11800 CE and 11700 PE; close by 3.15 ... approx profit 12-13 points.