Trade Log NIFTY May 22
My trades today.
In my last post I had said
1. I am reluctant to jump on either sides for long term future. For tomorrow, I maintain my bullish bias in NIFTY .
2. I'll change my view when NIFTY drops below 9030-9000 zone.
3. I think tomorrows day may decide the trend for next week.
For point 1, Now I am not sure about bullish bias as NIFTY closed below 9050, but did not fell with momentum.
For point 2, Yet to change my side.
For point 3, I was wrong anticipating today as decider day.
From the price action today
1. NIFTY lost -0.74%, BANKNIFTY closed deep in red -2.57%.
2. VIX fell by another -1.84%
3. NIFTY and BANK NIFTY both candles are weak.
4. Advance Decline ratio is 24 to 26. Neutral.
I plan to do a detailed post over the weekend about the weekly view, But what I can say, I am very reluctant to go short in this market. I dont know if we can get a decent bounce with momentum, but overall downside looks very slow and weak.
- I stayed away from the market for morning session becuase of RBI event. Later when NIFTY broke below 9000, I sold 9100 CALL which I squared off for loss.
In my last post I had said
1. I am reluctant to jump on either sides for long term future. For tomorrow, I maintain my bullish bias in NIFTY .
2. I'll change my view when NIFTY drops below 9030-9000 zone.
3. I think tomorrows day may decide the trend for next week.
For point 1, Now I am not sure about bullish bias as NIFTY closed below 9050, but did not fell with momentum.
For point 2, Yet to change my side.
For point 3, I was wrong anticipating today as decider day.
From the price action today
1. NIFTY lost -0.74%, BANKNIFTY closed deep in red -2.57%.
2. VIX fell by another -1.84%
3. NIFTY and BANK NIFTY both candles are weak.
4. Advance Decline ratio is 24 to 26. Neutral.
I plan to do a detailed post over the weekend about the weekly view, But what I can say, I am very reluctant to go short in this market. I dont know if we can get a decent bounce with momentum, but overall downside looks very slow and weak.
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