Nifty 2017

Closed overnight position with +20 more. Inching towards monthly target. Has been a tough month.

77 - (20 yesterday +20 just now) = 37 more to go for Jan. Need few extra chillar to cover the brokerage as well.

-12 points loss booked.

+20 on shorts. I guess I will be done with Jan target by tomorrow.

37 - (20-12) = +29 to go to hit the 200 per month mark.

My inner voice is telling me we are done with Nifty Upword Rally for good. There is a lot to explore on downside. Not sure before or after Jan expiry, but within this Q results period for sure - and a populist budget will add more fuel for market to nosedive. And we all know a populist budget is on the card after demonitazaion. But again, it is market. We saw what happened to those analysis which predicted global crash if Trump wins...

+34.5 booked on short , Z Factor in one trade


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Got another +16 on short, could not post. So net tally of Jan till date on Nifty:

29 - (34.5+16) = -21.5 to go to meet 200 mark or in other words, already scored +221.5, one week before expiry. So lazy game for rest of the Jan and no risky trades.

And finaly, the very reason of the trade,
Walking The Talk of this post

Nifty Expiry Week (Jan / 2017)​

Nifty has been little more stubborn than usual, however any intrument showing sign of stagnation need to reverse, either for good or too hit the next available S/R band to produce the springboard action - where lots of money are to be made. Anyways, lets get rid of assumption what will happen based on current price, rather try to see what will happen if it hit some of the levels next week.

On Hourly chart (BB-CCI) we are heading south (and won't be surprised if this persists for 1-2 more hourly candles), but the chances of full breakdown is limited next week as lots of OI on Nifty options (PE sellers) have to flushed out to do so. But again , this is market.




On Daily, we are still over STI and latest batch of dynmic supports are available on 20, 50 & 100 EMAs.



And finally the weekly pivot point of confluence (bearish below yellow, buying near Green, Selling near red - Unless the red/green are breahed with high volume).



Good Luck Guys !! Have a profiable week ahead.

Got the 1st Session's Long Bought @ 8355, Booked Full @ 8399 = 44 Pips. Rewarded for following dynamic support / resistence. But missed the short on 2nd session - was busy at work and frankly dont want to be a Dholok Trader, you know I trade in single direction each day, mostly.



Jan Tally Stands at

44 + 221.5 = 265.5

Whatever excess of 200, will be rolled into Feb' target of 200 marks again.

Just looking at the Nifty Order Spread (taken 30 odd mins ago) and laughing at myself (not because I am on the onside), but at past how many times I used be at offside in these kind of days few years ago.

• Price has broken the weekly Pivot R1
  
• On 5 mins STI is well above VWAP (since what time)
  
• ADX is looking good
  
• Price follows path of least resistence

And now , look at the order spread and watch how many sellers are there compared to buyers.

Yes, at time they got it right- but winning is about getting it right more than the time you get it wrong (with nR). These sellers are plain going by luck and will stick there till 2:50 to 3:05 pm and then start jumping off the boat like rats - and will take the price higher.

Never mind, I was one them few years ago. I guess it is common human psy to sell which goes up and buy which goes down - they will violate their system, all learned lessons and donate the money to others.

If you are a Nifty trader and Long in spite of the early morning spike - WELCOME to the WINNER'S Club. !!

Booked and out at 8477 ( Seeing some big fellas selling on truckloads)

+29 pips, needed 3 more pips for my Nifty Z factor. Was there, but did not get out on time.Anyways, $hit happens. Closing just another Nifty day in green

265.5 +29 = 294.5 for Jan till now.

Order snapshot will be posted later. Asked my photoshop guys to fake it. Just kidding, can not open tinypic right now, on office Lan, need to switch to Mobile again. Will do it in the evening.

Ok, here it is: