Akash Ambani - Day High Mukesh Ambani - Day low 😅😅

Thank you, @reliancejio, for taking care of my mobile recharges for the next 15+ years!

#NIFTYSMLCAP250 The market has shown a good bounce over the last two days after the sell-off, but broader participation is still missing. With the market near resistance and the overall structure looking like a breakdown and retest, this is not the time to get aggressive. Intraday trading is working well in EPs and IPOs, but for swing trades, it’s clearly a wait and watch situation. Two stocks are almost ready for entry, but given the current market conditions, I’m staying on the sidelines for now. By the end of this week, we should get more clarity on whether the market reclaims its short-term EMAs or sees another round of selling. There’s no need to rush. If the market holds up well, next week could bring plenty of opportunities. Crude oil is also not showing much weakness, so uncertainty remains.

#NIFTYSMLCAP250 After last week’s breakdown, the market is showing signs of a reversal, and my plan was to capture this recovery move. The index is likely to face resistance near 17k, where the 10 EMA is placed. From current levels, the maximum potential upside appears to be around 1%, whereas I was sitting on nearly 3% in open gains. Given the limited upside relative to the gains already available, booking profits here makes more sense. The overall market structure remains bearish. My view remains sell on rise until the index closes above the 10 EMA for two consecutive days.

#HDFCSML250 Closed this reversal trade with close to 3% portfolio impact. Could have easily generated a 6% portfolio impact if I had managed to increase the position size to 200%, as planned. Unfortunately, funds were stuck in the Jio IPO, so I couldn’t size up as intended. 😐

JIO Platforms IPO allotment out ✅ ipostatus.kfintech.com Those who applied for 168 shares (14 lots) under the JIO IPO Shareholder Quota have been allotted 2 lots (23–24 shares).

#HDFCSML250 Saab chadh gaye na? Koi reh toh nahi gaya?

Perfectly played out! The morning session was weak, followed by a strong recovery in the second half, just as expected. The only regret is not being able to size up due to the JIO Platforms IPO, so currently holding just 100% position size in the ETF. Could have added more if the funds weren’t blocked. Tomorrow will be interesting, as funds blocked in the JIO IPO are expected to be unblocked by tonight. Overall, closing on a good note. Now, let’s hope for strong follow-through tomorrow!

Market breadth is now in the extremely oversold zone. From here, the downside looks limited, with a maximum 1–2% more correction possible, if it happens. Plan is to add more to the ETF position if we see another 1–2% fall.

Perfect! Market is slowly moving into the oversold zone. Good time to start looking for ETF reversal opportunities. Ideally, I would like to see another weak closing today, followed by a weak first half on Monday and a strong recovery in the second half. However, I don’t know whether this scenario will play out or not. So, anyone looking for reversal opportunities can consider adding ETFs in 2 parts instead of deploying the full at once.

For reversal trades, the ideal scenario would be another weak closing today, followed by a weak first half tomorrow and a recovery in the second half, forming a kind of pin bar. Don’t want a recovery in the second half today. Let the weakness continue so we can get better reversal opportunities through ETFs tomorrow.