August series started with strong bullishness. We went long on Nifty
On Monday, 27th July, Nifty ended a five-day bearish streak by recovering and closing 228 points higher at 23,995. The following day, 28th July, marked the monthly series expiry, during which Nifty remained stable and closed with a 10-point loss at 23,985. From that moment, we awaited a new trade trigger, which occurred on 29th July. Despite the bullish trigger for that day being at 24,048, Nifty demonstrated a strong movement and closed significantly higher at 24,250. Conseq
Nifty bounced back from support level. We closed our monthly positions with profit
On Friday, July 24th, Nifty declined for the fifth consecutive day, reaching a critical range of 23623-23645, which were the close/high values from June 12th. On June 15th, Nifty opened with a significant gap, which had not been filled until now. After filling this gap on Friday, Nifty quickly found support and began to rise for the remainder of the day. This suggests that if the global cues stay positive over the weekend, Nifty might begin to rise due to some short covering.
After the downtrend and the prolonged consolidation Nifty breaking out to the upside
The previous entry in this blog series was on July 2nd, when we initiated our first bullish position for the July series. This position was gaining profits nicely until July 7th. However, on July 8th, Nifty plummeted due to new war-related news, closing the day with a 520-point drop at 23,882, significantly below our reversal trigger point of 23,983. The decline was so steep that we refrained from taking a short position that day, opting to wait for a pullback, which occurred
As expected, the break out bull run continuing in Nifty. Our position is in green
On Thursday, 2nd July, Nifty opened with a significant gap up of 57 points at 24062 and remained above that level throughout the day. It steadily moved upwards and closed 170 points higher, confirming the bullish trend we anticipated in our previous post. On Friday, before the weekly close, Nifty demonstrated additional strength by opening 200 points higher at 24375 but could not maintain that level. Shortly after opening, it began to decline and ended the session at 24270, s
In July series Nifty is probably going to start a fresh bullish run
Since the gap up opening in Nifty on June 15th, triggered by the ceasefire on the war front, it has entered a consolidation zone following an ABCD pattern within the 23800-24250 range. From June 15th to the present, Nifty has experienced two upward movements, encountering resistance around the 24200-24250 mark, and two downward movements, finding support near the 23800 area. On July 1st, marking the beginning of the new July trading series, Nifty likely initiated a 5th wave u
Nifty's bounce back was impressive but the breakout could not sustain
On Tuesday of last week, Nifty experienced a significant decline and broke out of the consolidation zone, activating a sell signal according to our spreadsheet below 23851. Nifty ended the day at 23824, affirming the bearish trend. Nonetheless, this weakness did not persist the next day, as Wednesday saw a strong rebound with Nifty recovering nearly all of the previous day's losses. The stop loss for that day's bearish move was set at 24078.60, and the Nifty spot actually exc
Nifty consolidating with a bullish bias. We have booked profit from closing all the positions for this month
On 18 June, the Nifty 50 showed strong bullish behavior despite starting the day with a 40-point decline. By the session's end, Nifty had risen by 82 points to reach 24,168, notably closing above the previous swing high of 24,090 recorded on 26 May. However, on 19 June, Nifty experienced profit-taking following a remarkable rally over the past five days. It opened with a significant gap down of 179 points and continued to drop by another 90 points before a sudden recovery nea
Nifty continuing it's bull run but with signs of exhaustion
On Friday, June 12th, Nifty broke out of a consolidation zone with a gap-up opening, followed by the formation of strong green candles on both the price and MHAF charts. This movement also triggered a new buy signal. However, we did not immediately reverse our short-biased position because our predetermined reversal point was set at 24042. Since then, we have been waiting for this reversal point to be breached, which occurred yesterday, June 17th. On that day, Nifty began wit
Nifty showing bullish strength but need to come out of the zone
Yesterday marked the weekly expiry at NSE, and Nifty reversed direction with consistent bullish momentum. The selling pressure that had pushed Nifty down to the 23100 level was effectively countered in the latter part of the session, allowing it to return to the support zone that had been breached the day before. The expiry session concluded with a daily gain of 120 points, forming a bullish hammer-like candle. Although the MHAF chart did not confirm a bullish reversal, it in
Nifty broke down from a consolidating range but finding support at lower level
On 5th June, Nifty concluded the week in a consolidation phase with a bearish inclination. Although the day began with optimism, selling pressure emerged at the 23500 level, ultimately bringing Nifty down to close at 23366 by the end of the session. The MHAF chart supported this perspective, showing a red candle with an upper wick, albeit not very strong. However, on 8th June, this view was reinforced with a gap down opening in Nifty by 290 points. Interestingly, this signifi