Nifty Prediction 19th Feb 20
Nifty today morning reversed its up trend after we broke 11970 spot level. Many are now talking about lower levels of 11600 as an important support while I do not disagree with the possibility that Nifty can see lower levels it is important to understand some important astro cycle perspective here. Mercury has gone retrograde on 16th Feb and with its retrograde period of 3 weeks we have usually seen that buying in panic and selling in euphoria has made money so a buy and hold or a sell and hold will not be a great strategy for the time being or at least the next 3 weeks. Whenever we have prices moving to one part of the extreme it will be a good idea to keep booking profits because we can see sharp sudden counter trend rallies coming in either direction. It is also possible to see one down day and the next day exactly opposite that of the current move so hence booking profits at regular intervals will be a good trading strategy for now. Also, from a risk management stand point it will be a prudent strategy to enter trades on pullbacks rather than any level so keep this in mind while trading for the next few days. We say this because during the Mercury retrograde period we have seen a lot of evidence where sharp sudden moves come out of now here.
As usual if you are only trading on the basis of this post please use your own risk management and then only trade. Please do not over trade and always keep your risk in check. We just took one trade today and that was we sold Divs Lab 27 Feb 2140 Put at 40rs so wherever we keep getting safe trades we will keep taking them
Nifty Prediction Buy into panic and sell into euphoria. Keep booking profits at appropriate levels.
Part of what we did
[9:16 AM, 2/18/2020] Glenn: Good morning [9:16 AM, 2/18/2020] Glenn: No open positions in Nifty for now [9:16 AM, 2/18/2020] Glenn: Wait on sidelines [9:27 AM, 2/18/2020] Glenn: Wait for update [9:45 AM, 2/18/2020] Glenn: Do not short for now [9:45 AM, 2/18/2020] Glenn: If and when buying has to be done will update [9:45 AM, 2/18/2020] Glenn: As of now wait on sidelines [9:46 AM, 2/18/2020] Glenn: Divergences on multiple indicators suggesting false breakdown in line with Mercury retrograde system [9:46 AM, 2/18/2020] Glenn: So we will wait for some more clearity [12:27 PM, 2/18/2020] Glenn: Bank Nifty Trade in 2 Parts [12:27 PM, 2/18/2020] Glenn: Bank Nifty Buy 1 Part at 30110 spot level [12:28 PM, 2/18/2020] Glenn: Hdfc Bank Buy in 2 Parts [12:29 PM, 2/18/2020] Glenn: Hdfc Bank Buy 1 Part at 1198 spot level [1:48 PM, 2/18/2020] Glenn: Option Only Trade Divis Lab 27 Feb Sell 2140 Put [3:02 PM, 2/18/2020] Glenn: Hold Divis Lab 27 Feb 2140 Put short position as told [3:07 PM, 2/18/2020] Glenn: DIVIS 27 Feb 2140 Put short 1 part Book 50 percent at cmp and hold remaining qty [3:16 PM, 2/18/2020] Glenn: I hope everyone understood what we were seeing since morning on the charts but we were not getting any low risk entries to buy anyways if we get a good trade set up we will trade [3:16 PM, 2/18/2020] Glenn: Till today’s low holds we should consider trend to be up if low breaks then we will see what to do [3:17 PM, 2/18/2020] Glenn: We may have to trade both sides in ghe near term [3:19 PM, 2/18/2020] Glenn: Break of today’s low will resume down trend and take Nifty towards 11750 while break of 12078 will take us towards 12400 plus be patient and wait for good trade set up
Good trading to you!