In my post of August 18, I explained why I’ll trade lightly in the zone 11380-11630. Please refer to the post.
My trades
No trades today
My observations for the day
NIFTY was tightly range bound in 11400 - 11460. It closed 0.20% up.
BANK NIFTY closed 0.52% up
VIX dropped below 20. It is now at 19.96
Advance Decline is 28 to 22.
My view for tomorrow
All indicators are showing high bullishness. But as I said, since we are close to the monthly trend change level, I am being very cautious and not taking sides. What that means, is NIFTY can show extreme spurt which can throw off the traders with limited risk appetite. I’ll trade based on intraday signals.
My trades
No trades today
My observations for the day
NIFTY was tightly range bound in 11400 - 11460. It closed 0.20% up.
BANK NIFTY closed 0.52% up
VIX dropped below 20. It is now at 19.96
Advance Decline is 28 to 22.
My view for tomorrow
All indicators are showing high bullishness. But as I said, since we are close to the monthly trend change level, I am being very cautious and not taking sides. What that means, is NIFTY can show extreme spurt which can throw off the traders with limited risk appetite. I’ll trade based on intraday signals.