TraderPK

  No overnight positions and expectation is a gap up opening which i’ll play initially with a short bias. Being a tight range day, pdl/pdh are key. If we gap up and show weakness, 24175 is the level to short for target 23850. Else, if we gain strength from opening, 24800 will be the first target which, if crossed, can push the mkt above 25000 rather quickly. The region between 23850 and 24800 is well balanced - any move out of this band will have good velocity. 

Expiry day. N o swing trades on - only doing intraday for some days till volatility subsides.  Initial focus for the day will be on the short side but will be open for reversals. Yet again, 24100 is the key level which will firm my bias further into the day. 24400 was breached yesterday but would still be on my radar. 23850 on the downside and 24800 on the upside are levels which, if crossed, can result in quick 150-200 point moves.  24140 - 24240 was the heaviest traded area in the previous session and can slow down the mkt. 

Carrying net long positions from yesterday. Intraday bias coming into the day is slightly long.  Reaction around 24880 is key for further upside. Else, if we snap back from this level, will look for mkt to cross 24550 for downmove.  24485/24615 is the zone where mkt can spend some time.

Expecting a gap down due to global mkts. We pierced through some crucial levels on 26 Oct. But keeping an open mind about the possible action. Intraday: Having slightly short bias coming into the day.  Yet again, we have double distribution areas 24430/24490 and 24155/24180. For any possibility of a reversal, the area around 24100 holds the key i.e. if we gap down but move up, 24100 will be the first indicator of a recovery. On the way down, reactions around 23850 and 23500 are important.

W e are building value up here with up move so this is bullish overall (compared to the one we had in August last week).  Intraday: Having slightly short bias coming into the day due to proprietary indicator.   Yday we got rejected from the upper node of double distribution from 21 Oct which will be key reference points - 24775/24820, 24335/24380. Apparently, previous day high/low also coincides with these nodes. Will trade any rejection from these nodes towards yday’s value area 24552/24568.