Anyone who was tracking BANKNIFTY against its main drive for the day, HDFCBANK.. will understand what I am saying. Today the end of second last half hour, Banknifty was rising but momentarily HDFCBANK had just begun profit booking for the day.
I was long with 32300 CE (weekly). While profit booking HDFCBANK made one swift move back upwards (just one candle at 15:09-15:10), at that moment Banknifty touch the Extreme UZone...and at that exact moment I booked my CE.
Its not easy for anyone who's new to the zones concept to take a good entry with zone. But its comparatively easier for anyone to exit with zones. Basically, lower your losses with good risk to rewards and protect your profits.