I exited my trade early for a small profit . 577 Rs that is 1.65% ROI on 35000 Rs in a day. Why I exited the trade?
1. Yesterday , my entry was pretty late in the trade from on daily timeframe.
2. NIFTY is forming higher high and higher low for last 7 days.
3. NIFTY did not move second leg after Gap up.
4. Profit taking before weekend is comfortable.
What is the plan for Monday/Tuesday?
I'll wait to see how NIFTY opens and goes on for a new high. The line of resistance I am observing right now is around 15575 zone. If I get it around that zone, I plan to sell a bear call spread expiry June 10. Because I expect some consolidation (as short as 3 days). Here SL will be waiting to see consolidation and then get out when 3 days of consolidation plays out. I am selling, which is against the trade so I'll be super conservative. Here idea is to combine small price + time move.
1. Yesterday , my entry was pretty late in the trade from on daily timeframe.
2. NIFTY is forming higher high and higher low for last 7 days.
3. NIFTY did not move second leg after Gap up.
4. Profit taking before weekend is comfortable.
What is the plan for Monday/Tuesday?
I'll wait to see how NIFTY opens and goes on for a new high. The line of resistance I am observing right now is around 15575 zone. If I get it around that zone, I plan to sell a bear call spread expiry June 10. Because I expect some consolidation (as short as 3 days). Here SL will be waiting to see consolidation and then get out when 3 days of consolidation plays out. I am selling, which is against the trade so I'll be super conservative. Here idea is to combine small price + time move.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.