Swing Trader | Investor | Not SEBI Registered
Joined September 2021
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So we saw a pullback today, which was very much expected as the market was approaching strong resistance near the short-term EMAs.
This was clearly not the time to get aggressive with swing trades. High-quality setups were missing, and the bounce in the indices lacked conviction, with low volumes and no strong thrust.
Recent IPOs were holding strong, but even they were giving multiple shakeouts. Just intraday trading in EPs is the only thing working, and that too selectively. Apart from that, nothing seems to be working consistently.
𝗧𝗵𝗲 𝗖𝗵𝗮𝗿𝘁 𝗪𝗶𝘇𝗮𝗿𝗱 retweeted
Weird price action across stocks, with multiple shakeouts over the last 2 sessions.
There’s no real thrust or liquidity, and quality setups are also missing.
Also, the market is near its short-term EMAs, so need to be cautious at these levels.
𝗧𝗵𝗲 𝗖𝗵𝗮𝗿𝘁 𝗪𝗶𝘇𝗮𝗿𝗱 retweeted
#APOLLO
Added yesterday at 413.6 with a small position size. Honestly, I wasn’t planning to enter as the market had rallied for 4 consecutive sessions and was near strong resistance around short-term EMAs, with thrust and volumes also missing.
As the expected pullback started today, exited near cost instead of waiting for the SL to hit.
#APOLLO
Added yesterday at 413.6 with a small position size. Honestly, I wasn’t planning to enter as the market had rallied for 4 consecutive sessions and was near strong resistance around short-term EMAs, with thrust and volumes also missing.
As the expected pullback started today, exited near cost instead of waiting for the SL to hit.
#NIFTYSMLCAP250
The market had bounced for 4 consecutive sessions and was trading near a strong resistance zone along with short term EMAs. Today, the market has started giving a pullback and is now down nearly 2%.
This is why it's important to stay cautious when the odds are not in favour for going long or taking aggressive swing trades. Today's and Monday closing will be important to understand where the market is headed next. Until then, stay on sidelines.
#NIFTYSMLCAP250
The market has shown a good bounce over the last two days after the sell-off, but broader participation is still missing. With the market near resistance and the overall structure looking like a breakdown and retest, this is not the time to get aggressive.
Intraday trading is working well in EPs and IPOs, but for swing trades, it’s clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I’m staying on the sidelines for now. By the end of this week, we should get more clarity on whether the market reclaims its short-term EMAs or sees another round of selling.
There’s no need to rush. If the market holds up well, next week could bring plenty of opportunities. Crude oil is also not showing much weakness, so uncertainty remains.
𝗧𝗵𝗲 𝗖𝗵𝗮𝗿𝘁 𝗪𝗶𝘇𝗮𝗿𝗱 retweeted
#NIFTYSMLCAP250
The market has shown a good bounce over the last two days after the sell-off, but broader participation is still missing. With the market near resistance and the overall structure looking like a breakdown and retest, this is not the time to get aggressive.
Intraday trading is working well in EPs and IPOs, but for swing trades, it’s clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I’m staying on the sidelines for now. By the end of this week, we should get more clarity on whether the market reclaims its short-term EMAs or sees another round of selling.
There’s no need to rush. If the market holds up well, next week could bring plenty of opportunities. Crude oil is also not showing much weakness, so uncertainty remains.
Weird price action across stocks, with multiple shakeouts over the last 2 sessions.
There’s no real thrust or liquidity, and quality setups are also missing.
Also, the market is near its short-term EMAs, so need to be cautious at these levels.
#KROSS
This is on my priority list and is setting up very well as a Delayed EP.
Thank you, @reliancejio, for taking care of my mobile recharges for the next 15+ years!
#NIFTYSMLCAP250
The market has shown a good bounce over the last two days after the sell-off, but broader participation is still missing. With the market near resistance and the overall structure looking like a breakdown and retest, this is not the time to get aggressive.
Intraday trading is working well in EPs and IPOs, but for swing trades, it’s clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I’m staying on the sidelines for now. By the end of this week, we should get more clarity on whether the market reclaims its short-term EMAs or sees another round of selling.
There’s no need to rush. If the market holds up well, next week could bring plenty of opportunities. Crude oil is also not showing much weakness, so uncertainty remains.
#NIFTYSMLCAP250
After last week’s breakdown, the market is showing signs of a reversal, and my plan was to capture this recovery move.
The index is likely to face resistance near 17k, where the 10 EMA is placed. From current levels, the maximum potential upside appears to be around 1%, whereas I was sitting on nearly 3% in open gains. Given the limited upside relative to the gains already available, booking profits here makes more sense.
The overall market structure remains bearish. My view remains sell on rise until the index closes above the 10 EMA for two consecutive days.
#HDFCSML250
Closed this reversal trade with close to 3% portfolio impact.
Could have easily generated a 6% portfolio impact if I had managed to increase the position size to 200%, as planned.
Unfortunately, funds were stuck in the Jio IPO, so I couldn’t size up as intended. 😐
#HDFCSML250
Avg Price: 164.69
Position Size: 100%
Planned to increase the position size to 200%, but the funds are currently blocked in the Jio IPO. 😐
JIO Platforms IPO allotment out ✅
ipostatus.kfintech.com
Those who applied for 168 shares (14 lots) under the JIO IPO Shareholder Quota have been allotted 2 lots (23–24 shares).
𝗧𝗵𝗲 𝗖𝗵𝗮𝗿𝘁 𝗪𝗶𝘇𝗮𝗿𝗱 retweeted
#NIFTYSMLCAP250
Perfect! Good level for now. Hoping for a reversal.
Let’s see how it goes.
Perfect!
Market is slowly moving into the oversold zone. Good time to start looking for ETF reversal opportunities.
Ideally, I would like to see another weak closing today, followed by a weak first half on Monday and a strong recovery in the second half.
However, I don’t know whether this scenario will play out or not. So, anyone looking for reversal opportunities can consider adding ETFs in 2 parts instead of deploying the full at once.