WAITING FOR SIGNALS 30.04.25

Yesterday’s trade did go above the high of the turn date but could not hold on to those levels and it closed off those highs. So nothing of a trend determination level has happened. Which means that the possibility of going either way continues to be the case today.

One of the differences is that the option market shows the appearance of call shorts. If readers recall, yesterday was a day of Put short dominance. Call build up at 24400-500 strikes now creates a resistance band. Put build is at 24300. So a narrow band for today’s expiry.
Difficult for anyone to make money by anyone in such markets. The only play available is to chase some clear cut results items. Dont go by your impression of the number but rather by what the market thinks about the results. Like Reliance, for eg. Or, IT stocks were in demand yesterday and maybe some rotation is happening into those stocks. Most of them saw long OI build up or short covering. Only Tata Tech was negative. What was disappointing to see is that for many stocks where we saw good results (Ultratech, TVSM etc), the prices came off so expectations were already baked in. This again makes playing results difficult.

One of the safe lists to play would be the WellSet (bull or bear) stocks from Neotrader. Most of the time these stocks have also good set up in OI builds too. Like for eg, most of the stocks shown in today’s list have a long OI build. Hence the chances of those stocks going wrong are low. Similarly, the stocks listed under Wellset Bear have a good correlation with the set up in the derivative variables also. This list is refreshed every day so our members will always have fresh trading names on a daily basis. Dont miss this.