• 4 more trading sessions left for the monthly close
• So far the we are exactly where we opened for this month
• However the huge wicks on both sides clearly depicts the volatile moves for the month
• The erstwhile structure of HH-HL has now changed to LH -LL
• So far we haven't got a closing below HL-2 (i..e. weekly close below 34k)
• Dark cloud cover (DCC) under formation
• Confirmation of the same would be if it starts trading <35400
• Will wait for 35725 to clear (immediate hurdle)
• If it fails to do so then will wait for BNF to trade below 35300
Conclusion:
•36700-800 is the high we made on Feb 24 (Mr. Putin announced a military operation in Ukraine)
• After 30 days BNF is unable to break & sustain above it
• Sharp downmove was followed by sharp upmove
• Need some sort of consolidation before the next direction
• The consolidation range might be 36800-33k
• Range of consolidation is wider due to the volatility
• Upcoming week is a weekly & a monthly expiry
If you enjoyed this, then do check out my other threads.
I regularly share weekly outlook on indices and many more threads on trading & finance.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
A sound business will make money and hobbies will take money out of your pocket.
• Be thorough about your business
• Set realistic expectations
• Uncertainty is the part of the game
• Strategize to maximize your business's potential
2. Know yourself & your trading type:
• Intra-day trader: Entries & exits within the same day
• Swing trader: Involves holding positions over a period of days or weeks
• Positional trader: Trade lasting for several days or weeks even months
• Scalper: Quick entries and exits