#banknifty OI down by 1.39% and price up by +0.49 %, which indicates a neutral setup.
Long positions are trapped in 22,750 -23,000 zone, any gap up will get sold off, and selling pressure will intensify below 22,700.
Bold Recommendation:- Short market at higher levels with SL of 23,388.
FII bought 1093.81 Cr & DII sold 1129 Cr, DII is selling for the last four days.
FII is bullish & DII is bearish on the index.
The overall neutral, reason we are yet to enter the uptrend channel that is running for the last 3 months and the trend will be positive above 23,388.
In the last 9 trading day's we have covered 2631 points and this is too fast and the 5th wave seems to get completed between 22,890 to 23,090.
We will use decision line 22,896, below negative and above positive.
Long SL is 21,811.
I said Yesterday "Trading stratergy:- To sell in higher range ( 22,900 - 23,100) SL 23,388 for a target of 22,800 / 22,650 / 22,400 / 22,050."
and the same is applicable for tomorrow as well.
I will not long on index any further, until we cross 23,388 and holds and will add to long-only above 24,000.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Long positions are trapped in 22,750 -23,000 zone, any gap up will get sold off, and selling pressure will intensify below 22,700.
Bold Recommendation:- Short market at higher levels with SL of 23,388.
FII bought 1093.81 Cr & DII sold 1129 Cr, DII is selling for the last four days.
FII is bullish & DII is bearish on the index.
The overall neutral, reason we are yet to enter the uptrend channel that is running for the last 3 months and the trend will be positive above 23,388.
In the last 9 trading day's we have covered 2631 points and this is too fast and the 5th wave seems to get completed between 22,890 to 23,090.
We will use decision line 22,896, below negative and above positive.
Long SL is 21,811.
I said Yesterday "Trading stratergy:- To sell in higher range ( 22,900 - 23,100) SL 23,388 for a target of 22,800 / 22,650 / 22,400 / 22,050."
and the same is applicable for tomorrow as well.
I will not long on index any further, until we cross 23,388 and holds and will add to long-only above 24,000.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
