I am absolutely unable to get a view on the markets. Had banknifty moved just a little similar to way nifty moved, I was expecting a solid swing of around 350-400 point in total till this weekly expiry. If anyone has any idea what can work as a trigger for tomorrow's trading, plz mention in the comments.
Yes, there is a trendline. But the ways zones have come out, I am certain that trading the trendline breakout tomorrow for long side would probably not give a stable sl or a proper risk to reward. Then only good thing that can happen is we get a gap up tomorrow on banknifty beyond UZone, in that case we can just ignore the trendline and trade the bounce from UZONE. Yes there is call writing, but obviously cannot be predetermined to short banknifty when nifty gave a promising closing. Lets see.
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trial trade on zone rules, will be shorting banknifty fut when spot reaches or show rejection on spot 32200 levels or UZone. (less quantity)
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my confidence will skyrocket if by then HDFCBANK show slight rejection at 1286.5 (that's around hdfcbank's zone)
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There is gonna be a day when I can trade banknifty while half asleep. And yes, HDFCBANK's current 3 min top is 1286.35
I am not able to identify the trigger, otherwise would have given detailed explaination on when and how. As of now only some stock and index have patterns in making. lets see