Manoj's Trading Diary

Trade Plan for 22nd Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.
If spot nifty opens above 8131 then its a valid breakout with target of 8700.
Buying pressure is above 8070 and then if it breaks above 8131 its still a valid breakout with target of 8700.

Negative reversal which happened on 1st Dec has target of 7629.

RSI is still falling down indicating down trend to continue however it can take support at 40 level which needs to be watched carefully.
As said before ADX has taken support near 25 level and is rising now which indicates downtrend to continue.

So plan for today will be to short in TTF when RSI is in resistance zone of 55-65 level.

If RSI trades in 20-30 zone, will be looking to go long in expectation that RSI in daily is holding 40 level.

SUPPORT: 8035, 8021, 7988, 7967
RESISTANCE: 8090, 8112, 8138, 8150, 8181, 8192, 8205, 8221, 8237, 8253, 8282

Trade Plan for 26th Dec

Demark Trendlines:
Negative reversal in RSI which happened on 1st Dec has target of 7629.

If spot nifty opens above 8098 then its a valid breakout with target of 8667.
Buying pressure is above 8029 and then if it breaks above 8098 its still a valid breakout with target of 8667.

RSI is still falling down indicating down trend to continue and broken 40 level
ADX has taken support near 25 level and is rising now, however -dmi has crossed ADX which indicates pause in downtrend.

So plan for today will be to trade from both side and scalp instead of going for swing.

SUPPORT: 7976, 7965, 7880
RESISTANCE: 8000, 8077,8093, 8112, 8138, 8150, 8181, 8192, 8205, 8221, 8237, 8253, 8282