Manoj's Trading Diary

[manojborle]

Update: Spot nifty has opened at 8196 so break below 8143 will be breakdown failure

If today it closes above yesterdays close then its getting ready for breakdown tomorrow as the break of trendline will be valid in that case.

 

[manojborle]

Trade Plan 14th Dec

RSI on daily rising again and as its bear market resistance zone is 55-65.
ADX is falling and now almost near 25 level where it may take support and start rising again.
-DMI is at top indicating the bears are having the strength.

Plan will be to buy NF in trading time frame below RSI 40 levels and exit in 55-65 zones till Daily RSI reaches reaches resistance zone of 55-65

RESISTANCE:: 8240, 8252, 8280
SUPPORT: 8215, 8206, 8186, 8150, 8136, 8101


DEMARK TREND LINES:
If Spot Nifty opens below 8155 or trades below it, then a valid breakdown with a target of 7995
Selling Pressure for Spot nifty is below 8214.

 

[manojborle]

 

[manojborle]

 

[manojborle]

Trade Plan for 15th Dec

Demark Trendlines:
If spot nifty opens below 8169 then valid breakdown with target of 8009. If it opens above 8169 then trendline break will be failure.

RSI failed to cross 50 level and is turning down from it which is extremely bearish. Negative reversal which happened on 1st Dec has target of 7629.
ADX is near 25 level with -DMI strong which indicates high probability of trend continuation from here.

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

SUPPORT: 8191, 8186, 8135, 8105
RESISTANCE: 8205, 8215, 8252, 8280

 

[manojborle]

Trade Plan for 16th Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.

RSI failed to cross 50 level and is turning down from it which is extremely bearish. Negative reversal which happened on 1st Dec has target of 7629.
ADX is near 25 level with -DMI strong which indicates downtrend may continue.

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

SUPPORT: 8136, 8106
RESISTANCE: 8182, 8205,8253, 8282

 

[manojborle]

Trade Plan for 16th Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.

RSI failed to cross 50 level and is turning down from it which is extremely bearish. Negative reversal which happened on 1st Dec has target of 7629.
ADX is near 25 level with -DMI strong which indicates downtrend may continue.

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

SUPPORT: 8136, 8106
RESISTANCE: 8182, 8205,8253, 8282

8182 acted as resistance and 8136 acted as support

 

[manojborle]

Trade Plan for 20th Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.
If spot nifty opens above 8160 then its a valid breakout with target of 8729.
Buying pressure is above 8114 and hen if it breaks above 8160 its still a valid breakout with target of 8729.

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.

SUPPORT: 8105, 8100, 8084, 8021, 7988, 7967
RESISTANCE: 8134, 8137, 8149, 8152, 8181, 8190, 8192, 8205,8253, 8282

 

[manojborle]

Trade Plan for 20th Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.
If spot nifty opens above 8160 then its a valid breakout with target of 8729.
Buying pressure is above 8114 and hen if it breaks above 8160 its still a valid breakout with target of 8729.

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.

SUPPORT: 8105, 8100, 8084, 8021, 7988, 7967
RESISTANCE: 8134, 8137, 8149, 8152, 8181, 8190, 8192, 8205,8253, 8282

Update:
Resistance of 8134 worked accurately and 8084 provided support.
Plan was to short but I traded counter trend and paid the price.
I will stick to my plan from next time.

 

[manojborle]

Trade Plan for 21st Dec

Demark Trendlines:
The breakdown in spot nifty is valid and the target is 8009.
If spot nifty opens above 8146 then its a valid breakout with target of 8715.
Buying pressure is above 8103 and then if it breaks above 8145 its still a valid breakout with target of 8715.

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.

SUPPORT: 8088, 8100, 8021, 7988, 7967
RESISTANCE: 8136, 8149, 8153, 8181, 8190, 8192, 8205, 8253, 8282