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.

As anticipated, Nifty opened the session with a significant gap up of 160 points today. In the first 15 minutes, it hovered just above 23900. Following our system rules (we were short on 23900 PE), we closed all open positions when Nifty spot reached 23942. The MHAF spreadsheet suggests that a bullish trigger might occur either today or tomorrow if Nifty closes above 24060. If this happens tomorrow, which is the monthly expiry day, we'll see it as a chance to go long for the August series. A new short trigger will emerge if Nifty starts reversing and falls below 23750 from tomorrow. Currently, Nifty is within the EBR/EBL bands, indicating that further momentum is needed to confirm a new bullish trend.

In the July 18 blog post, we mentioned incurring a loss of Rs 59,800 due to a reversed position taken with a bearish perspective. Today, after securing a realized profit of Rs 1,47,000, our net profit for this month stands at Rs 87,200.

Since December 2025, by strictly adhering to this strategy, we have consistently avoided a losing month. Let's see what the next month has in store for us. Cheers and happy trading.