SELL Generated in LTF @ 6551
NOW We have SELL signal in LTF, HTF and Daily @ 6550. Let us see if it holds. Because the SELL Signal was not holding for the past many sessions
The next support in LTF will come at 6505. So watch 6505
NIFTY Range as per HTF
6522-6620 Pivot @ 6570
NIFTY Range as per LTF
6537-6566 Pivot @ 6552.
After a Long time NIFTY in LTF is FLAT with the Range now at 6515-6565 with Pivot @ 6540.
HTF is still in an UP Trend.
In LTF Buy Generated @ 6510.6 with SL @ 6491.6 Targets 6539.3 and 6564.6
May be the support will come around 6505
Closed 50% of 6400PE @ 40. Will close the Rest when I get a Buy signal in LTF
Yesterday close SELL Generated in LTF @ 6551. Today the Trend slowly started drifting from UP to FLAT to DOWN in LTF.
This morning the SELL Generated around 6555. And the support came around 6500-05.
Since the Trend was Down, did not go for the LONGs and was always looking to SELL on Highs and so it turned out to be a good day.
But since the IV was dropping the Put did not give a Great profit but it was OK.
So the important point is
- If the TREND is DOWN, Take only SHORTs
- If the TREND is FLAT, LONG/SHORT is fine
- If the TREND is UP, Take only LONGs
LTF is in DOWN trend, HTF is UP TREND, Daily is in UP TREND.