Price is Everything

Right…

No solid engulfs or other confirmation in LTF. Price seeking higher Supply to fill the ample buyers. Its also not a good time to be going long atleast not until we get a pullback to the nearest demand which you have marked. And then we might again get a retest of the highs in a sort of QM. But lets see. So far last EOD kinda is trying to create a False Breakout above the all time high in Reliance

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@alphaT Check DLF. Possible candidate to keep in watchlist as Price reached Supply. But have to wait for confirmation esp with the strong consecutive Bull bodies we are seeing in DLF now.

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I have only one Zig-zag indicator on Zerodha platform Chartq.

Here is what I see. Weekly looks all compressed on the upside! Need to be careful with shorts.

Daily also looks compressed on upside, already knocked out one SZ and at the next one, while forming DZs on it’s way, so yes, time to be very cautious! Could be trend changing scenario on the daily! And it’s also at a QM level. Very tricky situation. Trades only on strict confirmation on LTFs. Watch for PA!

-AlphaT

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Oh! I don’t use chartiq. Tradingview has this price range tool that I use to mark the zones. Very useful!

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Infy was already tanking from Weekly & Daily SZ. The fall would get stronger now. Big Institutions don’t like scams/uncertainty, sell orderflow is likely! A full MTF analysis is required now, so coming up with the analysis in some time!

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Considering the bearish view, we can initiate bear call spread at 750 and 800, to get a credit spread of 19.2k for 2L deployment. Can make adjustments based on movement.

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Looks very good Sai ! Only thing is that it will open with a big gap down, but implied volatility shooting up will also be great for this! :+1:

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Switch to tradingview. It has host of cool features. You can make zones easily in TV.

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Situation warrents confirmation only trades as said by @ManishAstral and @alphaT !! I would suggest to wait for price to show the way then take position based on confirmation…

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I was going to close my short… but now my target just got extended a lot! #earlyDiwali #weeklysupply :dancer::dancer::money_mouth_face:

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Superb buddy! You were already short! :grinning: Hold on till reversal PA comes, this could go a long way!

-AlphaT

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@alphaT Thanks!! Shared your video on facebook, you will get viewers n subscribers sure… Bees will come where there is honey! Keep going with the great work!

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Thanks @iSTFF ! So kind of you! :pray:

IIRC you play with options, can you share what legs you took for INFY short play…

Got a chance to exit my PUT option INFY OCT 710PE

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Superb! Well done @TIMEFRAME ! :grinning:

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Thank you :slightly_smiling_face::+1::clap: