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Nifty 2 Jan Opening Notes and Put Condor Trading Idea

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Nifty 3 Jan Opening Notes

Nifty 2 Jan Opening Notes and Put Condor Trading Idea The 4th opening candle has shown a decisive upside which normally indicates a positive outlook for the day. However since SGX Nifty and global cues have been volatile and confusing, a note of caution is what some analysts are suggesting. Smart intraday traders with high risk appetite may look at the third candle low as their SL on a long futures index trade. For the more conservative traders with lower risk appetite taking a hedge maybe a good idea. Something…

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Nifty 2 Jan Closing Notes

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Nifty 2 jan Closing Notes

The market started out today with lack lustre volumes and understandably so, being the first trading day of the year. Most world markets remained closed today. The opening charts for NIFTY at around 9:30 am signaled some caution. Analyzing the charts at that time and applying the 3rd candle theory the signal was a negative bias. The 4th candle of the day opened decisively breaking the low of the 3rd candle. The volumes we low, as a result the normal conviction was missing. Around mid-day as the market was mildly…

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