Trade Log NIFTY June 29
My weekly view
My trades today
1. I did not trade today.
Observations for the day
1. Typical consolidation day on gap down.NIFTY closed -0.68%.
2. BANKNIFTY closed -1.08%.
3. VIX gained 0.61%. There was fear of greater slide down in the morning session, but this did not happen.
4. NSE Advance Decline is 38 to 12.
My view for tomorrow
1. Today's price action does not change my view. Overall it is getting tight consolidation range. Flag formation is visible on minutes and hour chart. If NIFTY breaks above 10400, the bias will shift and it will try to chase the recent high of 10550. If it breaks 10224, it may drift.
2. I'll wait for this breakout to happen before I update my view.
My trades today
1. I did not trade today.
Observations for the day
1. Typical consolidation day on gap down.NIFTY closed -0.68%.
2. BANKNIFTY closed -1.08%.
3. VIX gained 0.61%. There was fear of greater slide down in the morning session, but this did not happen.
4. NSE Advance Decline is 38 to 12.
My view for tomorrow
1. Today's price action does not change my view. Overall it is getting tight consolidation range. Flag formation is visible on minutes and hour chart. If NIFTY breaks above 10400, the bias will shift and it will try to chase the recent high of 10550. If it breaks 10224, it may drift.
2. I'll wait for this breakout to happen before I update my view.
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