Trade Log NIFTY July 17
In my yesterday’s post I had said
Not much to conclude today. The larger picture does not change. I’ll trade when NIFTY breaks out of the 10550-10820 range.
Some intra day short opportunities only below 10640.
Overall, for the last 2-3 days I was inclined towards a bearish view. I was proved wrong by close above 10815.
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My trades
I bought call on opening when trend change level is crossed, I squared it off near end of the day.
My observations for the day
NIFTY closed 1.5% higher. It formed a bullish candle and closed above 10900.
BANK NIFTY closed 1.7% higher.
VIX supported this up side with drop of 4.75%
Advance Decline ratio positive 41 to 8
Option data suggests a range of 10700-11200.
FII and DII data neutral.
Overall, NIFTY daily structure is looking positive. But still overall I think some caution is required. I’ll detail my view out in the weekly view post.
Have a good weekend!
Not much to conclude today. The larger picture does not change. I’ll trade when NIFTY breaks out of the 10550-10820 range.
Some intra day short opportunities only below 10640.
Overall, for the last 2-3 days I was inclined towards a bearish view. I was proved wrong by close above 10815.
===========================================================================================
My trades
I bought call on opening when trend change level is crossed, I squared it off near end of the day.
My observations for the day
NIFTY closed 1.5% higher. It formed a bullish candle and closed above 10900.
BANK NIFTY closed 1.7% higher.
VIX supported this up side with drop of 4.75%
Advance Decline ratio positive 41 to 8
Option data suggests a range of 10700-11200.
FII and DII data neutral.
Overall, NIFTY daily structure is looking positive. But still overall I think some caution is required. I’ll detail my view out in the weekly view post.
Have a good weekend!
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