Bank Nifty levels for Wednesday (Pause Today, Still Bearish)
Opened and closed at same level it took a pause today. Made a doji on daily chart indecisive candle.
Put buy options
40800 to 40900 Area with stop loss of 100 look for put buy with price action, Targets of 40600,40400,40200.
40650 below area with stop loss 100 points look for put buy wiht price aciton, Targets of 40500,40400,40200.
No random entries in between only at mentioned levels look entries for better risk reward.
Call buy options only above 41000 if price sustains one can go for CE buy with stop loss of 100 points.(avoid going long in bearish market better wait for pull back to levels where sellers are active look for put buy options).
Put buy options
40800 to 40900 Area with stop loss of 100 look for put buy with price action, Targets of 40600,40400,40200.
40650 below area with stop loss 100 points look for put buy wiht price aciton, Targets of 40500,40400,40200.
No random entries in between only at mentioned levels look entries for better risk reward.
Call buy options only above 41000 if price sustains one can go for CE buy with stop loss of 100 points.(avoid going long in bearish market better wait for pull back to levels where sellers are active look for put buy options).
Trade active:
Opening gap down if pricce accepts and sustains previous day low ,look for put options more selling pressure will be seen down side if price goes below 40500.
Trade closed: target reached:
below 40500 scalped till 40350 10 k profit closed for day .
Comment:
All Targets reached.below previous day low sustained fell to above mentioned targets.