As promised earlier, here I am starting thread on prediction of market direction by using simple TA.
Direction can be predicted with few minutes.
Terminologies used are -
PDR - previous day Range
PDH - Previous day High
PDL- Previous day Low
1/n
Nifty ( Market) Direction prediction by using technical Analysis -
1. If Nifty opened within previous days range & 1st 15 min candle breakout on upside then go for Bullish to Sideways View.
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2. If Nifty opened within previous days range & 1st 15 min candle breakout on Downside then go for Bearish to Sideways View.
3. If Nifty opened Above previous days range & 1st 15 min candle breakout on upside then go for Bullish View.
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4. If Nifty opened Above previous days range & 1st 15 min candle breakout on downside then go for Bearish to Sideways View. Change view if Nifty again reverse back from PDH and going above 1st 15 min candle.
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5. If Nifty opened below previous days range & 1st 15 min candle breakout on Downside then go for Bearish View.
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6. If Nifty opened below previous days range & 1st 15 min candle breakout on upside then go for Bullish to Sideways View. Change view if Nifty reversed from PDL and going below 1st 15 min candle.
Thank you. If you useful Thanks me Later. 🙏🙏.
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When I entered in trading in Yr 2017,
I searched for paid advisory services - I called many, there charges were like
1. Rs 10000 Per Call. Reason behind this was advisor him self paying huge to operator or so called expert to get this call. 2. Other option Rs 25000/ month
1/1
3. One option was 30% Profit sharing, No loss sharing. One day I joined one what's group, admin gave call to buy Tata global CE and PNB bank CE.
I made 60 K profit on Tata global and I lost 35 K on PNB, he started demanding 30% on 60 K. Where as 35 K loss was totally mine.
2/2.
4. This option is very lucrative, they will only charge Rs 1999 per month.
Most of the traders fall in this trap as they think this fees is very less.
I also entered in the trading in Yr 2017 by seeing MTM screenshot on social media.
Falled in trap with some paid advisors - lost 75 % of of my capital in 2 years.
After that started learning, attended many webinars - 90% were useless - lost money there also. 1/1
After that started self learning, worked hard on TA. Learned many indicators.
Tried many indicators but still trading was not getting better.
I was making some profit and again loosing it on bad trades.
2/2
Started working on price action and Risk management and Options strategies. I didn't made any loss from Dec - 2018.
Learning - There is no replacement to Self learning and Hard work.
Don't fall in trap with Paid advisors and seminars and webinars.
Find you edge and Trade.
3/3
Here is Thread on Bank Nifty : -
Total last 13 years of data Captured -
Note - Bank Nifty Far OTM options are very illiquid during month starting , ensure proper liquidity before entering trade . only 500 points away strikes are liquid.
Banknifty is very volatile than nifty
Starting with Bank Nifty Monthly data - see below pic - Data collected for past 151 month . focus on light blue area . As per data 90% of the time Nifty closed within +-15 % range from spot .
90% of the time it has not crossed 15% on higher side and also on lower side from spot
That Means if we sell options beyond 15% with hedge we can easily earn some profit every month .
See below pic - for strategy