Good morning Chartopia! ❤️

Nifty 50

We have some things to discuss.

Line Chart shows things a little clearly

As of now we are in a Double Bottom or W Pattern.

As the index has made a higher low or lets say more of an equal low after a long timr after just making an equal high. We basically know that our range is

22082 to 23750

So basically for a bias formation we need to see it break this box. Bullish bias above 23750-24000 closing and bearish bias below 22000

Till then this box is its home. play the range. but with risk management. as of now movement is pointing upwards and is just above or near the 50% Resistance zone of this range

If you see closely, the highs are lower and the lows are higher, showing signs of Contraction.

The way we made money in the bull run is not so easy now, almost not possible except for catching very specific stocks at very right time.

We cant just sit out side waiting for a chance.

We have to remain flexible and look for opportunities wherever we can find them.

We have to learn a way to trade the current market. Hopefully with a system thats easy to work with.

Im looking into sectoral movements as well as im looking into the same weekly closing based system and back testing stocks which if I entered at my setups what would have happened.

Im pretty confident we will find a way to game the current market and find our setups, part bookings might not be 35% Like in the bull run but say 5% and closure at 10 or capital removal. Will keep experimenting till i find something which can work in this market as well.

Maybe its a Big cup formation we cant say, all we need to do is keep our eyes on the range.

For the hundreds of DMs I got about what to do with the portfolio as they didnt take any SLs and just kept holding, well youre in a unique position now.

The losses might be 10% 20% 30% even 40%

I Would say use every big bounce and resistance hits to exits the top losers.

I exited the chartopia PF Fully once in NOV which i had informed every one.

And the 2nd Major exit was recent which i also updated in the channel, when we high the recent swing high saving me another 15% Loss. From -28 to -11 it was closed.

Now holding a handful of positions which didnt really fall much and mainly Gold Silver etc.

Waiting for very very very good setups only.

In the end, what you do with your PF is a personal decision.

Good morning! 😁 Let's be the brick!

Gift Nifty is +276 since we closed on Friday. 😁

Dirty Dirty Gaps!

How are the silver boys and girls feeling? 🥰

Bullion index before

Bullion index today

Defence Index getting ready?