APAR IND - SWING/POSITIONAL TRADE SETUP & SOME MARKET COMMENTARY

Here is the link where i mentioned about the SBI trade, I am fully scaled in with avg Price of 638.

https://share.gvine.app/sugCF7MjAeSSFkvh6

I have explained everything on the chart. Ideally the price should consolidate for a few more sessions, even fall some % points, before moving higher. If this is an aggressive trade SL can be around 5950 on a daily closing basis, mere violation is not enough. For Positional trade (12-18 Month) SL should be 5200.

MARKET COMMENTARY :-

For the last 2,3 weeks, i have been booking out profit and have raised 40% cash as the market was getting extended for my liking.

But the market is not showing any signs of slowing down, Last week Nifty oil& Gas, yesterday Nifty IT, today Realty, metal. If Bank nifty starts to chip in we'll head a lot higher. Every other day 1 or another space is setting up apart from main indices. Eg. Broking/AMC companies (BSE, CDSL, Angelone, Tata investment) in the last 2,3 days.

Our biases have 0 value until the chart confirms it, So i have bought Nifty FUT last week to up my exposure to 100% again.

I am also inclined to take positions in stock like SBI, JSW STEEL, WIPRO, APAR IND etc Where i have RISK:REWARD in my favour. But newly built positions have to be monitored closely.

I will not be scaling if things are over extended like for eg. TATA M, CANARA BANK, DLF etc.

MARKET IS SUPREME. Don't miss out on the rally on basis of your biases.