In the market, it doesn’t work like — “The market has fallen enough, so now it should go up.” Even worse is putting your money into trades just because you feel that way.
Markets fall because of fear, and overcoming fear takes time. In fact, fear often grows stronger before it fades.
That’s exactly what is happening right now.
So don’t trade with the mindset — “The market has dropped a lot, it should rise now.”
Use this time to identify setups that have already broken out and are now giving a retest or have completed one.
For now, just build your watchlist. Trade only when you see stopping volume or a pivot low forming.
Remember — Markets are driven by people. And people trade based on either Fear or Greed. Their fear has no bottom, and greed has no top.
Be patient. I’m sure you will get much better opportunities soon.
That said, a bounce can still be expected because the heaviest sector from the last rally — Defence — is now showing mean reversion.
Talking about #Nifty,
On Friday, it formed a Reversion Candle. Interestingly, seller volume was 40 million lower than Thursday’s candle.
A big candle with such low volume usually signals accumulation — which means smart money has started buying.
Since it’s earnings season, our focus will remain on the Earnings Pivot strategy.
NIFTY levels:
- Support - 24920. Good if consolidate here for 1-2 days.
- Resistance: 25150 — above this, strong short covering can push it to 25400
But I doubt if this bounce will be buyable yet because next week is monthly expiry. Bears may close their shorts, so the market might just move up to grab short-side liquidity around 25333.
However, if we get a monthly close above 25333, that will be a strong bullish sign.
BANKNIFTY levels:
- Support: 55950
- Resistance: 56750
Sector-wise,
CNXPHARMA and CNXFINANCE are showing traction.
Still, I strongly suggest sticking to stocks with Earnings Pivot setups.
In this market, that’s the safest strategy.
My this week's trades:
IXIGO - BOOKED ON UPPER-CIRCUIT
EIEL - 12% BOOKED
GARUDA - 19.5% BOOKED
DENTA - 18% BOOKED
CUPID - - 23% AND HOLDING
SPORTKING - 16% AND HOLDING
That’s all for now.
Take care.
Have a profitable week ahead.
Markets fall because of fear, and overcoming fear takes time. In fact, fear often grows stronger before it fades.
That’s exactly what is happening right now.
So don’t trade with the mindset — “The market has dropped a lot, it should rise now.”
Use this time to identify setups that have already broken out and are now giving a retest or have completed one.
For now, just build your watchlist. Trade only when you see stopping volume or a pivot low forming.
Remember — Markets are driven by people. And people trade based on either Fear or Greed. Their fear has no bottom, and greed has no top.
Be patient. I’m sure you will get much better opportunities soon.
That said, a bounce can still be expected because the heaviest sector from the last rally — Defence — is now showing mean reversion.
Talking about #Nifty,
On Friday, it formed a Reversion Candle. Interestingly, seller volume was 40 million lower than Thursday’s candle.
A big candle with such low volume usually signals accumulation — which means smart money has started buying.
Since it’s earnings season, our focus will remain on the Earnings Pivot strategy.
NIFTY levels:- Support - 24920. Good if consolidate here for 1-2 days.
- Resistance: 25150 — above this, strong short covering can push it to 25400
But I doubt if this bounce will be buyable yet because next week is monthly expiry. Bears may close their shorts, so the market might just move up to grab short-side liquidity around 25333.
However, if we get a monthly close above 25333, that will be a strong bullish sign.
BANKNIFTY levels:- Support: 55950
- Resistance: 56750
Sector-wise,
CNXPHARMA and CNXFINANCE are showing traction.Still, I strongly suggest sticking to stocks with Earnings Pivot setups.
In this market, that’s the safest strategy.
My this week's trades:
IXIGO - BOOKED ON UPPER-CIRCUIT EIEL - 12% BOOKED GARUDA - 19.5% BOOKED DENTA - 18% BOOKED CUPID - - 23% AND HOLDING SPORTKING - 16% AND HOLDING That’s all for now.
Take care.
Have a profitable week ahead.
TrendX INC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TrendX INC
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.