BankNifty is a scale that measures the Performance of our Banking System.
Understanding its formation is key to the success in trading it.
Analyze the Free Float Market cap weightage assignments and the underlying Bank's spot market distribution. To clearly visualize the Direction of BankNifty .
Intraday trading needs proper planning. AND DON'T GUESS ABOUT TOMORROW'S PRICE MOVEMENT BECAUSE PRICE IS A SUBSET OF + EVENT/NEWS.
Trading is a lifetime skillset Happy trading.
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Any questions, please reach out to me.
The Answer to your question
Yes, First you have to understand the Profit booking, I told you multiple times its a 60 to 70 points signal system. Then I leave the calculation now to you. And if you or your system is so great enough, post the results and take it forward, even I will Appreciate it.
Its not that, your exit depends on the next sell signal, this is not some kind of Crossover logic. The Entry and Exit are pretty dynamic in nature.
I have proven it through backtesting and the mentioning about the concept behind it. So, Here there is no need for me to prove more than this and if you have something better. All the best.
I don't draw lines to make some false projections, saying if it breaks this it will go here or there.
As a full time trader, I always believes in Time tested systems with a strong fundamental concept behind it.
Answer is given in the below.
To market your indicator, you don't need to make others bad, All d best on your indicator. Even we have a lot of free indicators(Breadth tools and Market Internal based indicators). Show me a single person who created Market Internal based tools in India using the capitalized weightage concept (Open Challenge) at free of cost.
I have proved it by posting the back testing results and concept behind, Even after showing the backtesting results are framed. I leave it for your knowledge.