Nifty analysis – 12 May | Nifty intraday analysis | Expiry day trading

Nifty analysis - 11 May

Nifty analysis – 12 May:

Same old levels. Just wait for the PA to develop and then trade accordingly. If the price isn’t able to reclaim the PDL, expect further fall to 15900 and beyond. If the price bounces off the PDL, then it can be a sideways way. Not expecting any bullishness.

Nifty analysis – 12 May | Update (09:30 am):

Nifty is already down 1.8% in the 15 mins of opening. There can be a heavy turnaround from 15900-15850, in which case I’ll be looking to short on the pullback. All the stops should be above 16k.

Nifty analysis – 12 May | Update (09:42 am):

If Nifty gives a pullback to 15950, I’ll be shorting 15950CE and 15900CE because there is a high chance that it will break the current day low.

Update (10:44 am):

Holding these positions at the moment. No system SL, just 1-1.5% manual SL on capital.

I opened a bit early (poor execution) because it’s too difficult to pin point the exact top.

The last 1 month has unfolded one of the toughest price action that I have witnessed in Nifty. It has become too difficult to assess the direction of the market. It opens with a negative bias and then reverses or it opens positive and ends negative, after trapping everyone.

I hope everyone is doing okay. Try to limit your losses and keep a check on your mental health. The market is ruthless, don’t beat yourself up for making losses. It’s okay to make losses, just try to limit them. Talk to someone if you are in a bad shape, don’t get depressed. We all are here for each other.


Nifty analysis – 12 May | Update (12:30 pm):

Nifty analysis - 11 May

I don’t like this accumulation in Nifty. This type of PA can lead to random spikes, which in this case can be to the upside. This can turn my position from +ve to -ve. I am still holding out to it, and have added 2 lot strangle. Let’s see.

Update (02:11 pm):

I am done for the day. Made the mistake of buying and selling PE repeatedly because I got confused by the PA near 15800. Nevertheless, I am happy to close in Green. ROI = 2% of the capital. I hope you guys too had a great day.