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Current trade: July – Sept 2018

current market trend

This is a long post as I keep updating it with my current trades in NIFTY/BankNifty. They are for educational purposes only and should not be taken as trading calls. You need to have your own trading system and risk assessment for trading in the stock market. I have shared my reason for sharing my live trades here. 

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26th July 2018 – Longs carried over

Just a small updates, BNF longs carried over to August Expiry. It’s working good so far 🙂 .

In 2nd thought, to make this thread more useful,  I am planning to share these updates post wise from 1st Aug 2018.

16th July 2018 – Current outlook – Long – Adding back longs

So BankNifty dived from the the resistance. But the trend is not down. At the most, BNF is in a band. It needs a closing above the recent high to create new highs.

Will add back longs that I booked on 10th, if BNF closes above the trend line. 

Bank Nifty current

10th July 2018 – Current outlook – Still Long

This is a mid-market update. And I will try to do so from next update onwards. This way at least those of you who are watching this post may not feel left out at the end of the trading session.

The point to be careful about is that even if stop loss is hit, the decision to re-enter the position or reverse the outlook is taken based on the closing of the day. Which will be last 20-15 min of market times.

The outlook of BankNifty is still long. The stop loss now is today’s low. 

EOD update: Booked partially. The run has been quite long. And now both Nifty & Bank Nifty are at resistance.

3rd July 2018 – Current outlook – Still Long

I was busy yesterday (2nd July), so couldn’t update the trade. My stop loss for Bank Nifty got hit in the day, but then it closed above my stop loss and hence I bought again at 3:20 PM.

Today again, the stop loss was in danger to get hit, but then it survived and hence the position and outlook is still long for me.

Chart for reference:

banknifty outlook

30th June 2018 – Current outlook – Long

Saved by a whisker. I was about to be out of my NIFTY and BankNifty Longs when they came near my Stop Loss. As you know I follow my trades based on the closing basis, but SL is always live in the market. As you can see, it didn’t get hit at all and I carry my long position.

current NIFTY

– chart courtesy: Investing.com

Just for clarification, the second smaller line is my trailing stop loss and the large one is my first stop loss. It (longer line at 10385) is also the point where I will change my outlook for NIFTY. Till that level is safe on closing basis, there is good chance that market will stay in positive territory.

Though, it still has resistance at the recent high. Let’s see next week.