MACD negative crossover has happened in Nifty and Banknifty due to tiredness, not because of bearishness.

MACD negative crossover has happened in Nifty and Banknifty due to tiredness, not because of bearishness.
Time: 8:40 am                                            FII: -6 Cr DII:
-3 Cr


Nifty
·        
There was no significant net buy or sell from institution.
·        
TAMO is down 8% because of worst result.
·        
However market is getting stabilized and ready to go up.
·        
As we discussed last week. INFY took support around 900 and making
Nifty strong.
·        
SGX Nifty is trading firmly every day morning because global
cues are in favor.
·        
HDFC is reached over-bought region and traded with huge delivery
volume yesterday.
·        
It looks bearish right now.
·        
MACD works based on moving average and hence negative cross-over
has happened due to tiredness.
·        
Aggressive short positions have been added to all AUTO sectors
(HERO, Maruti, TAMO, and Bajaj)
·        
Short covering happened in RELINFRA and Eicher motors.
·        
There were no aggressive long positions and profit booking as
well.
·        
However minor amount of long position is getting added in almost
nifty 50 stocks.
·        
Banknifty is looking bullish technically.
·        
RSI is going down and ADX is turning up again.
·        
Market looks firm and did not break trend-line. Bullishness is
supposed to get continued.
Banknifty
·        
ICICI Bank and HDFC Bank are almost flat in USA.
·        
FII is not selling Banking counter because all private banks
goes up.
·        
PSU Bank results are mixed and DII are buying it for long term.
·        
Indusind bank has formed bearish divergence pattern, but no
volume supporting the same.
·        
Faster upward move will get slow down due to this divergence.
·        
Attached chart, but never short patter without volume.
·        
Short covering happened only in Yes Bank.
·        
There were no significant shorts in banking stocks so far.
·        
There were no aggressive long positions and profit booking as
well.
·        
However minor amount of long position is getting added in almost
Banknifty stocks.
·        
RSI is in overbought region and ADX is up.
My Position & Trading Plan
·        
Didn’t do any trade yesterday as no adjustment is needed.
·        
Wil sell more PEs if market goes up.
·        
Will move to next month slowly.

·        
Having 25% free cash now.

Open Positions(20) Historical Download


Product Instrument Qty. Avg. price LTP P&L Chg.
NRML BANKNIFTY17FEB19000PE NFO -1000 18.70 8.70 +9996.00 -53.47%
NRML NIFTY17MAR8500PE NFO -450 56.39 54.25 +964.69 -3.80%
NRML BANKNIFTY17FEB18500PE NFO -400 7.00 4.50 +1000.00 -35.71%
NRML BANKNIFTY17FEB19500PE NFO -400 32.94 22.50 +4174.00 -31.68%
NRML BANKNIFTY17FEB21200CE NFO -400 11.50 5.80 +2280.00 -49.57%
NRML NIFTY17FEB9050CE NFO -300 11.45 4.45 +2100.00 -61.14%
NRML BANKNIFTY17FEB21000CE NFO -200 13.50 12.75 +150.00 -5.56%
NRML NIFTY17DEC9000CE NFO -150 509.20 533.00 -3570.00 +4.67%
NRML NIFTY17DEC9000PE NFO -150 400.00 383.35 +2497.50 -4.16%
NRML NIFTY17FEB9000CE NFO -150 7.50 8.00 -75.00 +6.67%
NRML NIFTY17MAR8100PE NFO -150 17.00 15.95 +157.50 -6.18%
NRML NIFTY17MAR8300PE NFO -150 26.00 28.80 -420.00 +10.77%
NRML NIFTY17MAR8800CE NFO -150 145.50 168.00 -3375.00 +15.46%
NRML NIFTY17MAR8800PE NFO -150 176.00 133.60 +6360.00 -24.09%
NRML NIFTY17MAR8900CE NFO -150 129.73 115.15 +2186.25 -11.24%
NRML NIFTY17MAR8900PE NFO -150 175.00 178.00 -450.00 +1.71%
NRML NIFTY17MAR9300CE NFO -150 18.00 15.85 +322.50 -11.94%
NRML BANKNIFTY17MAR20500CE NFO -80 410.00 386.70 +1864.00 -5.68%
NRML BANKNIFTY17MAR20500PE NFO -80 495.00 492.70 +184.00 -0.46%
NRML NIFTY17MAR8700PE NFO +150 103.50 99.00 -675.00 -4.35%
TOTAL 25,671.44

Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.

He is the Mastermind of CapitalZone – Active Option Trading where Traders can avail Trading Chart with customised indicators, FNO tools and Payoff analysis. His keynote is to provide whole FNO deets to be handy for Traders in a sole place.

Now he is taking more heed on hedging portfolio in Option Writing where we might subject to more market risk. He is streamlining his strategies often and improving perpetually. At this time unfolding ways to measure good-quality Trend Following System.

Conducting workshop in all Metro Cities (Delhi, Mumbai, Bangalore, Chennai and Coimbatore) often based on queries from Traders.

 

 

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