Nifty Bank IndexUpdated BANKNIFTY ANALYSIS - Jan 13
Case 1 - BNF opens flat (within 60 points range and crosses 32350, a long trade can be initiated.
Case 2 - Market opens big gap-up, it can reverse from 32500 (bc psychological level) or it can touch all time high and then reverse.
Case 3 - Market crosses 32200 level, a short setup can be made.
Since it will be Wednesday, PUT SIDE premiums need to be adjusted, so I will be more comfortable in selling call option rather than put, since the market is already too overstretched.
Let's see what happens.
Cheers.
Case 2 - Market opens big gap-up, it can reverse from 32500 (bc psychological level) or it can touch all time high and then reverse.
Case 3 - Market crosses 32200 level, a short setup can be made.
Since it will be Wednesday, PUT SIDE premiums need to be adjusted, so I will be more comfortable in selling call option rather than put, since the market is already too overstretched.
Let's see what happens.
Cheers.
Note
My plan for case 2 worked out fine. I hope you guys now understand the importance of planning ahead. Enjoy Profits.Many people are approaching me for learning. I am planning to take a webinar. If you guys are interested, please let me know.
All the best.
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