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NVIDIA - Stock came out with earnings on 21st Feb and saw a massive gap and rally next day backed by earnings. The stock opened gap up next day and started to fizzle out a bit, stock has now broken the low of the candle formed at the range high, this is the 1st point I look as a sign of tiredness in a stock where market interest is high but stock stops going higher. NVIDIA - Stock has started to do AVWAP rejection from ATH levels and also it has broken below the AVWAP from earning gap up. Making it look like the buyer post earnings gap is loosing its control and not able to hold prices up. I have marked 764 as a 1st pullback low from the day of earnings and price should correct sharply once breaks below that level. Since I am a mean reverting trader and seldom looks for contra trade where market interest is higher, while looking at the above set of data I have a -ve view on the stock and will look for sell trades around the references like pullback high and avwap rejections.

Gold weekly - Getting into the previous resistance zone. Gold Daily - Gold on 4th Dec tried a breakout and went on to hit a new ATH, but the breakout did not sustain and prices retraced to come back inside the range. What was the 1st thing that Gold did in previous occurances of ATH ? It came back to test the 21 DMA for it. 21 DMA this time is around 1994, so that level should be expected as a short term support next. How the action around the level is to be seen and will be covered again. Share the post if you found it interesting.

Daily Chart of Apollo Hospital - Stock has given a recetange breakout recently and has also done a retest of the breakout at around 5354 levels. Read more about rectangle breakout on the link - https://www.investopedia.com/articles/trading/08/rectangle-formation.asp(https://www.investopedia.com/articles/trading/08/rectangle-formation.asp) The height of the rectangle is 630 odd points. Lets have a look at the weekly charts now. ATH for the stock is around 5900 and that also coinsides with the target projection of the rectangle breakout. Disclaimer: - No open position at time of post. Above post is not a stock recommendation. https://www.indianstockss.com/disclaimer You can check out TradersClub learning module - Explore ways to trade in F&O segment effectively on the link - https://www.indianstockss.com/tradersclub-3(https://www.indianstockss.com/tradersclub-3)

Nifty has made a great come back after a down month in August. Now the upside reference for Index is at the 1st pullback high 19867 and the ATH reference 19991.85 A Key level below which index becomes negative again is 19550, as its the low of the candle which did a change of strcture on 7th Sept 2023 Disclaimer: - Views are just for discussion and education purpose only and not to be treated as any investment advise. I don't have open positions in Index discussed.

NVIDIA - It was one of the most awaited earnings for this season. Stock gave a big gap up only to close lower and fill the intraday gap it had created. Stock never made a new day high post opening higher. It clearly reflected how markets were positioned going into the earnings. Follow up buying was missing. Now if we look at the daily chart in isolation, there is a big -ve candle at range high with higher volumes. Stock will become bullish only post crossing the high of candle made on 24th Aug 23. Disclosure - No position. Educational posts only highlight the current state of the chart.

Ashok Leyland - Weekly ATH close post earnings on 21st July. Ashok Leyland - Daily chart stong close, while failure of breakout expected below friday day low at 174.65 Disclaimer: - No open position at time of post, looking to build an option strcuture in Aug series with bullish bias.

FORTIS-  Stock has broadly under performed its peers in last few years but the stocks now looks ready to do a move. How ? - Explained below. Fortis Weekly line chart - This chart presents a better picture, stock has already given a decent breakout from range above 299. Fortis daily line chart - On daily timeframe the stock gives a breakout above 321 and just yesterday stock did an all time high close above the 321 level. When a stock gets into uncharted teretory after many years, all supply of the stock gets absorbed and the move up becomes easy. Relative performance of hospital stocks since Fortis made a last high in Sept' 21 Relative performance of hospital stocks since start of 2020. Disclaimer : - The above charts shared are for education purpose only, study used to select the chart is ATH close and the recent show of strength. I do have open position in the mentioned stock at the time of this post.

Playlist for Index View on Youtube - https://www.youtube.com/watch?v=R_Lbo3EwPjc&list=PLDcxJi7IvrPq3YH3cD7Y6bcbk4h_sfBXC&ab_channel=IndianStockss

ACC - One of the Adani group stock which managed to hit a new yearly low seems to have given a failed break down on daily chart. A Tweet was also shared to highlight this view on chart - https://twitter.com/indian_stockss/status/1642134287746211847?s=20 Now how to play this view ? Multiple ways to play a bullish view in a stock, but than the 1st question is is the stock bullish 😅 I have selected a way to play a view of break down failure on this stock via call ratio where downside risk is defined at the time of the trade initiation. Below are my open position for this stock with a view that it should stay in range and give some bounce from here. How to manage this option strcture going forward ? If stock goes down - the risk is defined, also a roll down of short CE can be done to a closer strike If stock stays here - Is like the best outcome If stock goes up - Stock going up to 1750 is fine but above that its going to hurt due to the high ratio, for which we will be rolling up the short CEs above 1750-1760 zone to keep m2m in check. All trades that I take are discussed with the #TradersClub members, all the aspects of risks, management and view on the stock is discussed before initiating any position. #TradersClub learning session is scheduled for 15 & 16th April, details on link - https://www.indianstockss.com/tradersclub-1 Disclaimer : - The above charts shared are for education purpose only, study used to select the chart is failed breakdown. I do have open position in the mentioned stock in form of option structure as shared above.

Highlighting few out performing stocks across sectors today since Nifty has hit a recent low on 20th March 2023 TVS Motors - Stock has broadly out performed the down move in the auto space and is showing signs of up move Bank of Baroda - Stock has not participated much in the downside move and is stable since days. ICICI Pru - Recent action in the stock has been of double bottom and stock is not getting downside followup now. AB Capital - Stock has given a shallow correction and is now back nearly to its recent highs, clear signs of strength visible here. Titan - Stock bottomed in Feb 2023, while Index was still going down. Stock is now around a level from which it can give a change of structure breakout. Dalmia Bharat - Cement space has been doing well recently in last 10 days with stocks up from 2-7% from F&O space. There will be many more names which will get added to this list if there is a continued bounce in markets, Chart in markets were looking so bad just a few days back that getting follow-up sell from those was a tough task. We can now either look for out performance in stocks to find winners or failed break down on downside to find a contra long trade. #TradersClub learning session scheduled for 15 & 16th April, Details on link - https://www.indianstockss.com/tradersclub-1 Disclaimer : - The above charts shared are for education purpose only, study used to select the chart is relative strength. I do not have any open position in the mentioned stocks at the time of this post.

How to we understand more about markets ? By spending more time in markets, looking at more price action or whatever study we follow. How to we understand more about AVWAP ? By following the master Brian Shannon, just have a look at his latest one on AVWAP yesterday https://twitter.com/alphatrends/status/1607518546158026753?s=20&t=1t67fuYy-Uh_sVuzRzCWNw Now expanding on similar lines on our markets. We saw a sharp dip recently and there has been a decent bounce back in markets and broader markets. Where comes the first resistance ? First resistance comes in at the AVWAP from highs, if this is crossed then we are likely to move up. While the downside support comes at 42533 and a break of it most likely can lead to retest of the lows. Disclosure: No open positions in BankNifty.

Siemens - Gave a failed breakout yesterday before results and today attack. Game is mostly same everywhere on different timeframe - Trap bulls, trap bears.

Nifty 50 last week had an inside bar on weekly charts last week, market was not able to break the highs and lows of previous week, meanwhile previous week was a strong action on upside. Hence expectations are if we are going to break the highs that can be the higher probability move in direction of previous move. Lets have a look at the shorter timeframe references, upside we have 16146 -16194 as a gap zone which can be targeted by bulls on upside, while 15927 and 15858 remains he downside references. Lets check the AVWAP on options also called life VWAP for option - https://www.indianstockss.com/forum/miscellaneous/how-to-judge-if-option-seller-is-loosing-introducing-the-concept-of-life-vwap-for-an-option Nifty 16000 CE is trading above its life vwap and saw decent dip in OI also towards close on Friday. Nifty 16000 PE is trading below its life vwap and OI was stable thru the day. Disclosure: No open positions in Nifty Index.

Nifty future recent high clocked on 3rd June, when we take a AVWAP from the high is coming to be around 15830, the recent test of the same AVWAP had seen a push back in Nifty on 27th June. Like its observed if a level is tested again and again it becomes weaker, this time again its to be seen if we are able to cross this AVWAP hurdle. Lets check the AVWAP on options also called life VWAP for option - https://www.indianstockss.com/forum/miscellaneous/how-to-judge-if-option-seller-is-loosing-introducing-the-concept-of-life-vwap-for-an-option Nifty 15700 CE is trading above its life vwap and saw decent dip in OI also towards close on Friday. Lets see how this AVWAP test on futures goes, my bias is bullish looking at the 15700 CE crossing its life vwap and OI action. Disclosure: Open bullish CE spread in Nifty monthly options.