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.
#APOLLO
Added yesterday at 413.6 with a small position size. Honestly, I wasn鈥檛 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鈥檚 clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I鈥檓 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鈥檚 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.
#APOLLO
+Delayed EP
+Long base
+Highest ever Revenue & Profit
#KROSS
Looks good on LTF as well but market environment 馃槓
#KROSS
This is on my priority list and is setting up very well as a Delayed EP.
#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鈥檚 clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I鈥檓 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鈥檚 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.