BANKNIFTY Risk/Reward Intraday play for 18 Dec,19
Zones are mentioned on the charts. If I am not trading, will try to update this live.
Comment:
Attached is the screenshot of exit of CE.
prnt.sc/qch56s
PS: Check the price and time on chart to understand how its done.
prnt.sc/qch56s
PS: Check the price and time on chart to understand how its done.
Comment:
Newbie's take, See you gotta understand what you have bought, is it cheap or its pricey. I bought ce to play momentum, but along the way i realized, banknifty was making new highs but my CE hardly rising. Considering zones, I knew banknifty will atleast touch extreme zone, which will create a bull trap opportunity and also create a quick surge in CE. That was my decided exit point. It touched, I booked at market price.
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.
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.
Trade closed manually:
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.