Parjun
Short

Bank Nifty Short !!!

NSE:BANKNIFTY   NIFTY BANK
Short Bn             at between 20950-20850 with a sl at 21053 for target 20496 and lower. Time frame for this trade is really short. Within the next 2 trading days i am expecting this trade to hit either target or SL. Trade will activate tomorrow at market open.


Before some wise guy calls this an against trend trade or says that it is wrong analysis please remember that this is a counter trend contrarian sell with a very tight stop loss and awesome risk to reward ratio. Not to mention if you view my previous idea's that i have caught a large portion of the upmove in BN             already.
Trade active
Comment: Trail Stop loss to 20700. That way we lock in a profit of atleast 150 points and hold for further targets of 20400 and 20200.
So far so good. Tried to make a new high and has revered from the there. If this downmove has to gather wind we should see a close below 20500 on monday(27feb) or tuesday max.
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Looks like an awesome trade. I have bought puts on BN. Volatility will surge with markets falling.
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high risk
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Parjun praju
@praju, how is a 100 -150 point sl in bank nifty high risk ?
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