TARGET :500 Nifty points per month...!
- Thread starter linkon7
- Start date
positions are still the same... NF SHORT AT 5340, 5400 PUT JULY SHORT..and 5500 call short...
Monday will decide the next course of action...
Code:
scrip cost present diff profit/loss
5400 put July 148.00 173.00 (25.00) (2,500.00)
5500 call july 52.00 29.00 23.00 2,300.00
Nifty Futures 5,340.00 5,286.00 54.00 5,400.00
Total m2m profit = 5,200.00
Last edited:
Overview for the next week...
System says to short at 5347 with a target of 4863.
current range is 5259 to 5392.
As of now, NF is at the bottom 20% of this range which means that a retest of the upper range (5392) is on the cards. Now I have to observe RSi and see if it makes a lower High. That is the point where i'll be more aggressive with my short and will shift the 5500 call short to 5300 or 5200.
Now where to expect the turn around...
IChi suggest that 5082 is KS (means 50% retracement of the last 26 trading days) and TS is at 5276 (50% retracement of the last 9 days)
CS suggest that a close below 5256 will mean we can test the top of the cloud (5150) for support... That is roughly when the bottom trendline will be tested on CS. Means we can expect this correction to continue till 5150 if 5256 is broken on closing basis...
a close above 5357 will mean trend continuation on the up side will resume...
KS is treated as the fair value and either price comes to fair value or fair value will shoot to catch up with price... right now, the lowest low of the last 26 days is 4786 which happens to be 24 days back... the highest high of the same period is 5377 which is 5 days back... By Wednesday, if price doesnt break the 5377 mark then value of KS will be 5116 and on thursday, it'll be 5139 and friday, 5156.
On a very short term, TS will move to 5292 on monday if 5377 to 5206 range is not broken and will remain the same on tuesday. wednesday will see 5312 as TS.
It means that TS will slowly move up and prices will have to close above this figures to maintain the up trend...
To be continued...
System says to short at 5347 with a target of 4863.
current range is 5259 to 5392.
As of now, NF is at the bottom 20% of this range which means that a retest of the upper range (5392) is on the cards. Now I have to observe RSi and see if it makes a lower High. That is the point where i'll be more aggressive with my short and will shift the 5500 call short to 5300 or 5200.
Now where to expect the turn around...
IChi suggest that 5082 is KS (means 50% retracement of the last 26 trading days) and TS is at 5276 (50% retracement of the last 9 days)
CS suggest that a close below 5256 will mean we can test the top of the cloud (5150) for support... That is roughly when the bottom trendline will be tested on CS. Means we can expect this correction to continue till 5150 if 5256 is broken on closing basis...
a close above 5357 will mean trend continuation on the up side will resume...
KS is treated as the fair value and either price comes to fair value or fair value will shoot to catch up with price... right now, the lowest low of the last 26 days is 4786 which happens to be 24 days back... the highest high of the same period is 5377 which is 5 days back... By Wednesday, if price doesnt break the 5377 mark then value of KS will be 5116 and on thursday, it'll be 5139 and friday, 5156.
On a very short term, TS will move to 5292 on monday if 5377 to 5206 range is not broken and will remain the same on tuesday. wednesday will see 5312 as TS.
It means that TS will slowly move up and prices will have to close above this figures to maintain the up trend...
To be continued...
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