Nifty Key levels for day traders

[linkon7]

8 days of higher high,
4754.8
4769.8
4806.6
4818
4823.7
4849
4840
4893.5
4927.9

and 8 days of higher lows

4687
4725
4667.25
4735
4740.1
4782
4777.05
4788
4878.05

This short term uptrend can slowly change the mid term trend into a uptrend if we can break yesterday's high of 4927 and manage to make a low higher than 4878. Yesterday's range of 49 points is the second narrowest range in the last 22 trading sessions. a NR6 day.

The cam levels for today are :
H4 : 4,934.17
H3 : 4,920.46

L3: 4,893.04
L4: 4,879.33

We lost about 5% OI on NF and 5000 call & 4800 put was being written very heavily in yesterday's session, making this 2 levels as the extreme ends.

My trading plan :
NO action between 4893 to 4920. Go long above 4934 or go short below 4879.
Expecting a boring start and then attempt to push the range in either direction, only when balance is shifted to one side, action will begin.

Either the bear or the bull has to blink first. Till one side gives up, wait patiently...

The trend decider for the day is 4895...

 

[varun2504]

Good Morning LINKON gi

 

[PGDIMES]

My view is, everything before a mega event, is built into the price... The fact that we didnt have a pre-election rally means nothing much is expected from the budget. Most probably we can expect it to be a non event.

Now despite the huge sell off from the FII, no major damage was done. The sell off can also be seen in the chart. Whether we close above 5000 or below 4500, only time can tell as price movement is always random.

Linkon, What did u do with yesterday's strangle?

 

[linkon7]

Linkon, What did u do with yesterday's strangle?

still holding it... either 4879 or 4934 has to break... which ever side wins, i close the losing leg...

 

[veen money]

8 days of higher high,
4754.8
4769.8
4806.6
4818
4823.7
4849
4840
4893.5
4927.9

and 8 days of higher lows

4687
4725
4667.25
4735
4740.1
4782
4777.05
4788
4878.05

This short term uptrend can slowly change the mid term trend into a uptrend if we can break yesterday's high of 4927 and manage to make a low higher than 4878. Yesterday's range of 49 points is the second narrowest range in the last 22 trading sessions. a NR6 day.

The cam levels for today are :
H4 : 4,934.17
H3 : 4,920.46

L3: 4,893.04
L4: 4,879.33

We lost about 5% OI on NF and 5000 call & 4800 put was being written very heavily in yesterday's session, making this 2 levels as the extreme ends.

My trading plan :
NO action between 4893 to 4920. Go long above 4934 or go short below 4879.
Expecting a boring start and then attempt to push the range in either direction, only when balance is shifted to one side, action will begin.

Either the bear or the bull has to blink first. Till one side gives up, wait patiently...

The trend decider for the day is 4895...

Linkonda great great analysis
great vision
keep it up...:thumb:

 

[linkon7]

First half hour was like the battle of the 90's....

two 90 yrs old men fighting each other....

15 point range and no one managed to land one blow on the other....

still waiting for a winner...

 

[findvikas]

are yeh mili zuli sarkar hai... public ka bevkoof buna ruhi hai..
I see both your levels being touched today but do not see any of them broken decisively... first comes 4930

 

[linkon7]

lot of people placed entry trigger at 4904... assuming BO, just hit SL and came down, 95-93 will be their SL... and 88 another trigger for BD....

It'll be funny if that that gets hit and then we come back to 4895...

Both sides cursing the market....

Best is to wait for one side to throw the towel...

 

[findvikas]

max I see it going up to 4936 with current wave in 5min... then a retracement back to 4988... lets see...

 

[sumitdasjoshi]

Hey vikash you are saying that today market can go down what leavel you are seeing today