SaiKiran578
Short

Bank Nifty July Expiry Setup

NSE:BANKNIFTY   NIFTY BANK
258 views
4
BANK NIFTY has reached it's crucial resistance 23100 on July 8th.

My view for July Expiry is Bearish with a target of 21200.

Note: It will be bullish , if it goes above 23200.
Trade active
Trade closed: target reached: Happened Exactly what I predicted.
Comment: Support level reached for BankNifty as mentioned in the channel pattern. My analysis, it has to bounce back from these levels. Let's see what happens tomorrow.
Comment: Exactly predicted the move.

Comments

What about july 24000 ce? I have bought @276. Now its @119. Expire is 30th July
What should i have to do. Please suggest.
Reply
@Tom4447, You are in about 60% loss . You can hedge this by buying 23000 PE tomorrow, if BANKNIFTY opens below or crosses 23000 support.
This Strategy might reduce your profit percentage, but will surely save the capital you have invested, instead of wiping everything.
If you are lucky, you can make some profit too.

Note: These suggestions are for educational purpose. Please trade at your own risk.
+2 Reply
SaiKiran578 SaiKiran578
@Tom4447 Please let me know, if this strategy worked out for you
Reply
Tom4447 SaiKiran578
@SaiKiran578, thanks for u. Yes i have recovered some of my loss with this. I have sold on same day, so not able to make profit. :(

Again your review worked today. You are Awesome :)
Reply
@Tom4447, Don't loose hope, if you lost money. It's all part of learning lessons to gain more profits.

Thanks.
+1 Reply
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