TraderPK

Swing positions - neutral Bias for the day - short Range for mean reversion - 35430/35504 Notes - NF and BNF making higher highs and are looking very strong Stocks - Sitting on Heromoto and Kotakbank calls

Swing positions - long Bias for the day - long Range for mean reversion - 35395/35405 Notes - NF making higher highs and BNF broke off from the consolidation area. Stocks - Exited Maruti calls on min loss and hopped onto Heromoto and Kotakbank calls

Below is how we approach next week. i) Indices - Following the last week post, Nifty spot climbed to ATH. Charts suggest at least 1500 points rally from here in the next 6 months. The targets are indeed optimistic but note that this is following a 4 month consolidation. Weekly charts for indices as below. Whereas for Bank Nifty, next target is 36500 followed by ATH  ii) Stocks  Currently long calls on Kotakbank and Heromotoco. Other stocks in radar are RBL, Zee, Coforge, M&M and PEL for longs. Short candidates are Hindunilvr and Jindalstel. Coal India has moved in a wedge lately and can give either a break out or down - ready to trade in whichever direction it breaks

Swing positions - long Bias for the day - long Range for mean reversion - 35105/35245 Notes - NF making higher highs and BNF consolidating around previous days ranges before the next move up Stocks - Out of Zee with good returns and still sitting on Maruti calls with tight sl

Swing positions - neutral Bias for the day - short Range for mean reversion - 34714/34730 Notes - NF making higher highs and BNF consolidating around previous days ranges before the next move up Stocks - Hopped onto Zee and Maruti calls for a quick move up - looking at OI data which suggested writers are trapped

Swing positions - neutral Bias for the day - short Range for mean reversion - 34810/34812 Notes - NF/BNF consolidating around previous days ranges before the next move up

Swing positions - long Bias for the day - long Range for mean reversion - 34912/34932 Notes - NF/BNF consolidated at the high end of yday range. Still extremely bullish

Welcome to this week's analysis. i) Indices - Following the last week post, we were prone to break either side based on price action and we decisively broke to the upside. Let's check the weekly charts on Nifty to get another angle.  There is this constant uptrend from "Corona low" followed by 4 months of consolidation. We are trying break above it and possibly look for ATH and Bank Nifty broke out in Feb but came back to the consolidation area between 30700 and 32200. And trying to break out again. Overall, super bullish on NF and BNF. ii) Stocks  Currently sitting on Cipla bull call spread and bull put spread on SBI. Will initiate a calendar spread on ITC at 210 ce (sell may, buy june) - this is due to ivp being very low and with the expectation that IV will go up as result date approaches.  Stocks on radar: Asian Paints, Bajaj Finance, Kotak bank, Zeel, RBLbank, Ibulhsgfin, Bajaj Auto - all for long trades 

Swing positions - long Bias for the day - long Range for mean reversion - 34431/34640 Notes - BNF opened right at the lvn between the double distribution and raced up. So similar opening to the trend day on monday. Back bullish again

Swing positions - neutral Bias for the day - short Range for mean reversion - 33543/33596 Notes - created a double distribution means new acceptance area lower 

As per system, carrying neutral positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the short side into the day. NF has comfortably passed some crucial levels below and is super bullish. BNF can be super bullish once it crosses 34357. 33824-33833 range for mean reversion trades intraday.

As per system, carrying long positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the long side into the day. NF has comfortably passed some crucial levels below and is super bullish. BNF can be super bullish once it crosses 34357. 34043-34064 range for mean reversion trades intraday.

As per system, carrying long positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the long side into the day. The levels 14660 and 32150 were indeed crucial for NF and BN. After this immense coiling for 3 months, we may be finally witnessing a decisive breakout. 33183-33381 range for mean reversion trades intraday.

As per system, carrying neutral positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the long side into the day. 14660 and 32150 are crucial levels on spot for NF and BN respectively. Extremely important to see how we react around these levels. 32281-32361 range for mean reversion trades intraday.

Welcome to this week's analysis. i) Indices - Let us start with where we left off beginning with Nifty.  We saw weakness here after being unable to cross 15000. We ended Friday right on top of a crucial level/14660 which I had highlighted on daily analysis post.  Similarly with Bank Nifty which finished right above its key number/32150.  Moreover, we have been consolidating on both these indices. And since both of them have reached their important levels, I think time is ripe for us to see a breakout/breakdown. ii) Stocks  My put spread on Adani Ports is taking some heat but still has cushion before it hits sl. Initiated a long condor with calls on ITC which is nothing but a combo of bull call spread (210/220 ce) and a bear call spread (230/250 ce). Stocks on radar: LT, ZEEL, ASHOKLEY, M&M, BATAINDIA Cheers, PK

  As per system, carrying short positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the short side into the day. 14660 and 32150 are crucial levels on spot for NF and BNF respectively. Extremely important to see how we react around these levels. We have snapped below the most heavily traded region of 32850-33000. If there is no buying tomorrow taking us back above 32850, this is really bearish. 32553-32586 range for mean reversion trades intraday.

As per system, carrying neutral positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the short side into the day. This is the first time in last 7 sessions that Value area didnt go up. 32950-32972 range for mean reversion trades intraday. Region between 32850 & 33000 has the highest traded volume for May BNF contract. For NF, it is around 14700.

As per system, carrying neutral positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the long side into the day. Value area has been continuously going up since the past 6 days. Was an NR7 day so be very watchful for a breakout/breakdown and avoid initiating intraday straddles 33336-33339 range for mean reversion trades intraday. Region between 32850 & 33000 has the highest traded volume for May BNF contract. For NF, it is around 14700.

As per system, carrying short positions initiated towards the end of previous session. Unless proven otherwise, will prefer trading from the short bias into the day. But Value area has been continuously going up since the past 5 days.  33041-33077 range for mean reversion trades intraday. Region between 32850 & 33000 has the highest traded volume for May BNF contract. For NF, it is around 14700.

  Hi guys, This is my trading journal where I have been updating Bank Nifty intraday trading levels almost on a daily basis. This weekend onwards I plan to post the market outlook and my running/planned trades for the coming week. Disclaimer: The intention here is to share my analysis with like minded people. None of the ideas I share here can be treated as a trade recommendation. Please note that derivatives trading carries a high level of risk and might not be suitable for all investors. You should seek advice from an independent financial advisor. i) To start with, below is the Nifty 50 spot chart. We have been trading in a range for a few months now. Note that there was a failed break out attempt last week but we came back, retested the wedge and have broken out. Bank Nifty looks weaker on a relative basis. Overall, Nifty spot crossing 15000 and Bank Nifty spot crossing 34000 would be super bullish.  ii) HDFC has been trading in a channel since early March. Posted strong r...

Entering the day with neutral positions. Long bias into the day. Value area has been slightly going up since the past 4 days.  32936/32973 for mean reversion trades.

Entering the day with neutral positions. Long bias into the day. We traded mostly inside prev day range. Also, since the past 3 days, value area has been slightly going up. Most traded area for this contract has become 32580/32720.  32751/32905 for mean reversion trades.