Tom de mark sequential monitor for nifty50 stocks

[travi]

what is TD resistance level on upside. I am not using Amibroker etc. so asking for reference.

we dont have any recent ones. The March one arrives at 12160 but thats bit too far so as posted earlier we are using a bit of price action.

 

[travi]

so now after 7 days, today is still 7th bar of TD Sell setup, we got 500-550pts, and the upside momentum is crazy. Technically we are still long but we are approaching supply zones.

News of Trump not stroking the stimulus has not been taken well by US mkts so all this cocktail of news requires caution.
Results season is on as well, IT seems to be strongest sector.

Today is TD Sell setup bar 8, and going strong up but we are also in strong supply zones so looking at PA today, i decided to book for now.
If reqd, we can re-open tomo. Almost 700pts around 11850.

Technically, the mkt is still long and tomo bar 9 will be printed in all cases as the short level is 11503. Quite far.

After setup bar 9, mkt will have established a strong momentum, then we just have to trade light as election nears and volatility rises.

 

[travi]

Trading the 9s in Pidilite

the 2nd and 3rd setup Supports are very close or almost overlapping although the support lines are drawn a bit off the mark.

 

[sanju005ind]

Trading the 9s in Pidilite

View attachment 44466
the 2nd and 3rd setup Supports are very close or almost overlapping although the support lines are drawn a bit off the mark.

Speaking of Pidilite. Sad the CEO died at young agyof 54 due to pancreatic cancer.

 

[manohara]

we dont have any recent ones. The March one arrives at 12160 but thats bit too far so as posted earlier we are using a bit of price action.

It seems today is Sel set up 9th bar ..... how to plan travi bro...?

 

[sanju005ind]

It seems today is Sel set up 9th bar ..... how to plan travi bro...?

First allow the Sell Setup to complete. Then we can see. However Ravi bhai has multiple times mentioned in the previous posts that because of the current momentum he is looking at Price Action and not much worried about the setup.

 

[travi]

It seems today is Sel set up 9th bar ..... how to plan travi bro...?

In post 2021 i said the same thing, and 11500 getting broken today is unlikely.
As humans, we can anticipate a bit, and we know that VIX is going higher and volatility will increase so no point making big plans.

Setup bars themselves can be red, so on intra basis we can drop 200pts on NS but that doesnt mean the count is cancelled.
It just tells us that in Daily TF, we are in strong long momentum but we have also stepped into strong supply zone.

 

[travi]

so PA proved to be a good point to get out although mkt did actually test 12K. My initial thoughts were 12159 which is a TD ress but that's still too far.
BRN tested a couple of times and the mkt just saw profit booking.

Now, NS as of today has bearish Flip levels of 11835 for TD buy setup bar #1. ( 11820 was DL today )
1st bar looks unlikely today but tomo will be a tough test bcos then mkt needs to close above 11914.

having booked a bit early is no regret, but volatility may just shoot up starting next week with elections.
+ve news from Quarterly results seem to be factored well in the price so i'm not overly optimistic for big jumps on the back of results.
News like stimulus/vaccine etc are now the bigger drivers.

I did observe bearish flip levels in many portf stocks yest, so we are in short-term supply zone.
Bottom zone is 11100 for TD support, so its a broad range.

 

[travi]

Fine so, mkt did show its cards today.
I'd been booking and even NS was closed last Thu around 11850 and 12K didn't hold.
11900 crack gave options to Bear flip today, some good stocks have been flipping in past 2-3 days so now we're in correction mode.

First SL for short and reverse to longs is 11950 ( 11936 ) or so. lets see how deep it goes.
Volatility/uncertainty will prefer me to use PEs.

 

[jd1234]

Sir ji any change in view ?