There was good buying seen during closing hour on wednesday and thursday being an F&O expiry day didn't show much weakness, which we had usually seen during previous expiry days. Looks like Nifty would be strong for immediate short term and we might see buying during dips. Until we don't seeing buying coming during dips day traders can have a bullish bias
Even though we had some down move which were abrupt, but it was nothing like what we have been seeing since last 6 months on F&O expiry day . Previous lunch session down moves gave indication before the move and not abrupt moves like today. Might be easy money days from this pattern is over now
F&O expiry day again. Let us again look into the same old strategy of capturing that down move we get usually around or after lunch session. This one has played out successfully for months now and always we have highlighted this. I am surprised that this is working still as usually such very obvious moves stop working
Aug 26 - Expect volatility this week as we have F&O expiry on Thursday. Day traders or short term swing traders need to be very nimble and try to capture the abrupt moves which you may get with strict stop loss. This week is not the time to strongly stick on to any particular directional bias
Part 2 - Nifty need to trade above 7920 level and close above it to witness next rally. Until then we can expect a range bound market. If Nifty closes below 7850 we can assume that market would be weak for short term.
Part 1 - Indian stock market had a good rally for a week until Aug 18, 2014. On Aug 19 there was a gap up opening and the market closed that day forming a Doji formation with decent volume. This volume was higher than previous day which witnessed a long green candle formation. Previous 2 days the gap up window was closed and this level was held
Nifty has closed consistently above 7700 level and this makes Indian stock market bullish atleast for short term. Short term traders can look into stocks or sectors which are relatively more bullish since last week and trade them. Day traders can have bullish bias as long as Nifty trades above previous day's low.
Indian stock market witnessed some good buying yesterday. Couple of points which favoured bulls during last two sessions are Nifty closing the gap down window formed last week and also yesterday Nifty traded above this window and closed above the crucial level of 7700 points. Nifty need to maintain this level at least today and then we can say that for at least short term bias would be positive. Until then day traders can treat this market as range bound with a positive bias
Last week market was displaying intraday volatility, but in the process it was closing in red consistently. Until we see a strong close above 7700 we can't have a bullish view on market. Market is little bit in favor of bears and today market might attempt to close the opening gap down window formed on Friday. Day traders need to watch out for this window and seize trading opportunities to make some quick money
As mentioned in the morning, its very difficult to predict the short term movement in this market and today Nifty went all over the place. Day traders who were nimble and followed strict stop loss would have made good money today. Until Nifty closed above 7700 with good volume the bais would be little on the negative side.
Nifty closing below 7700 neutralized the positive points scored during day before yesterday's rally. It is difficult to predict any direction even for short term traders as we see direction changing intraday. Agile day traders can look for quick move with strict stop loss.