This one is a good example of staying with The Primary Trend and trade management. Nifty & Nifty Option both of are in profit. Because of the Options, *Covered Put Strategy* we are able to manage today's huge gap-up opening against our anticipated direction.

Nifty CMP @ 8890 ( Shorted at 8950 )
Nifty 8300 PE @ 160 ( shorted at 190)

Continue holding the position in Nifty and Options.

Nifty PE stop-loss to be done only if we hold naked put.

Right now Nifty Short is open, it didn't hit SL @ 9265. ( luckily )

So hold both trades. And let Cover Put Strategy Play its Role for maximum Gain and minimum Risk.

Yes, another huge Gap-Up and trade management required again. We will wait for RBI Press Conference and apply trade management as per the market movements.

Keeping the Stop-loss @ Today's High. When stop-loss hit, will exit only nifty position and 8300 PE will be kept open till expiry.

HDFC Bank posted good results. The Primary trend being down, I'm looking at the shorting opportunity when price rally upon a good result.

Entry: 950-960 ( Resistance - Wait for price to take a resistance - use 30 minutes or hourly to for conformation)
Stop-loss: 990 ( Previous Swing High)

Target: 1:5 ( 800 )

*Don't Jump The Gun at 9:15. Our patience will achieve more than our force.*

Hdfcbank daily trend will turn up when closed above 990.
(Bear Market Low 738 - Swing High 988 - HL 810 - HH ?? )
(738 - 988 - 810 - 988++ ??)

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Entry: 950-960 ( Resistance - Wait for price to take a resistance - use 30 minutes or hourly to for conformation)

How to confirm whether it's respecting resistance or not?

There no magic formula. Just wait for a red candle, bar around 950-960 on 30 minutes or hourly.

One red candle doesn't confirm resistance. But it's a technique to enter a trade at our predefined resistance level.
Keep things simple enough while trading.

HDFC Bank Result Snapshot.

HDFC Bank trading at 945 not crossing even day's open.

Opened at 951 and high made 960.95 in 1st 15 minutes of trading. So we can not get that level for a trade.

HDFC bank probably trading in resistance and time is now to open a trade.

Trade : Shorting HDFC Bank at 946
Shorting 880 PE @ 15

Net Price 946+15 = 961

Stop-loss 990

( All levels are Spot Prices, so trade accordingly in Futures )

April 20, 2020 14:55 PM

Yesterday's high again or stop-loss triggered in the gap-up opening.
So trade is still open keeping stop-loss at today's 1st 15 min gap-up candle's high @ 9391

Nifty cmp 9250
8300 PE cmp 33

HDFCBANK had strong bottom (support) around 950-960. ( October - November '18)

It's a classic case of support becomes resistance.

Exiting Short in Nifty 9100 Shorted at 8950. LOSS -150 Points.

Exiting 8300 PE at 36 Shorted at 190.
Profit 154.

Net = No lose, No Profit.

9100 to 9200 100 points not bad for the day, I'm not trading for 100 points gain and target is 500 points at 9600.

Risk Reward 1:5.
Using covered call.
Shorted April 9600 CE @ 68

Falling wedge is a very powerful reversal chart pattern when appears at bottom. However, it can be traded as a continuation pattern as well.

ITC, awaiting Bullish Flag Breakout. Continuation Chart Pattern.

Trailing Stop from 9000 to entry price at 9100.
Nifty Cmp 9310.
1:2 achieved so far, awaiting 1:5 at 9600.
April 9600 CE is at 60 ( Shorted at 68)

TCS breaking out of a triangle and the price is moving in a rising channel.
Go long as per your risk appetite and capital management.
Buying breakouts offers a poor risk-reward ratio.
So, it's better to look for a suitable risk-reward before trading.

Lupin - Bullish Flag Breakout
Pharma - Batting for the bulls.

Bullish Flag - Continuation Chart Pattern.

Axis Bank
Here's a falling wedge in the middle of an uptrend. Volume picks up on the breakout.

Price also taking support at the previous top. A classic case of Resistance becomes Support.

Long at 423 Stop at 400 Target 550.

Risk Reward 1:5

Using Covered Call.
Short Axis Bank 460 CE April @ 6.

Incase we hit Stop-loss in spot, Option will help in bringing down the cost of Stop-loss.

Remember we are in a counter-trend or rallies. So it's better to be cautious and should trail stop-loss once the position is in favor.

Bullish pennant in an uptrend. Awaiting breakout.

After a month-long rally from 19 April 2020 to 15 March 2020, Bharti Airtel taking an 8-day breather and likely to continue higher.

Pennants look very much like a symmetrical triangle but are typically smaller in size, (volatility) and duration.

Trade Update : Nifty cmp 9485

Nifty Target is 9600, entry was at 9100.
Risk Reward achieved 1:4+

April 9600 CE shorted at 68 is at 12 now and likely to be 0.00 as expiry is tomorrow.

1:5 Risk Reward will be achieved at 9532 because of the covered call.
9600 - 68CE = 9532

Technical Update

Lupin after a bullish Flag Breakout it went to 906 from 855 and made a swing high.

It falls back from 906 and currently trading at the previous top or previous swing high level.

A classic example of Resistance becomes Support.

Expecting Lupin to reach 950+ in May series. Cmp 863

Hdfc Bank Stop-loss Hit. Traded After Results.

880 PE is 0.15
And Spot hit 990 ( stop level )
Entry was @ 946+15 = 961