MARKET INDICATES

02/10/2019  @ 5.50 HRS

Market is always supreme. It indicates how it is going to behave.  It is for us to sense it and understand it. 

For example, market opened at 11491.20 on Monday which is below 11512, Friday close. Does this indicate positive?  NO.

Secondly, market closed at 11474 on 30/9, which is below 11512 and 11491.20. Does this indicate positive? NO.

Third, 1st day of October, started off with a good opening 11515.40, which are above both the numbers, but the close was at 11359, which is far away from 11491/515.  Does this indicate positive? NO.

If you have all the three questions which answers negative, and expect the market to bounce, then there is something very serious in our analysis.

Unless, nifty surpasses 11491.20/11515 no wonders can happen. So all longs should have a starting point only above 11515.

So to conclude, this expiry and this week close is not going to be encouraging.  

Now coming to the down side, one would he curious to know whether the downside is over for nifty?

As per Fibonacci level, 61.80% of retrace is at 11061.  Ideally this should be the level for the nifty to bounce. 

I have already identified the Call Option with buy price and SL to grab the golden opportunity.  Nowadays doubling is not a big thing. Nifty and Bank Nifty pours money if you pick CE or PE at the right time.  

If you do not analyse the market and trend like what I have done as above, you will be stuck with options and sit in wrong direction.

Go by levels, do proper analysis, have disciplined trade. You need not have to go after success. Success will follow you.

Good Luck!

PS: Bank Nifty analysis, similar to this sent to members.