Banknifty Trade Setup for 26.08.22 with intraday levels
Whatever happened since 1 pm is profit booking followed by panic among long positions held in cash. The standard candles were having so much less movement till 1 PM that the standard candles look like Heiken Ashi chart.
However, this move does not mean that we have entered a bear market. This is still a pull back and we are maintaining the bull run. In the near short term, the profit booking may intensify. If we suddenly slip below 39000 and banknifty spends some time there, then only you can expect shorts to enter the system.
Conviction bearish
Bias neutral
Trade Setup
Long above 39000 (hold your longs if you are in a trade) Target 39500-39800
Short below 38900 Target 38500 and below... Technically you can sit n a short once banknifty starts trading below 39000
>>Option buying<< (take next week options)
Long Position: Buy 39500CE
Short position: Buy 38500 PE
>>Option Selling <<
Sell 40000 CE with 30 point SL
-------------------------------------------
Standard Disclaimer
Trading stocks, options and other securities involves risk.
The risk of loss in trading securities can be substantial.
The risk involved with trading stocks, options and other securities are not suitable for all investors.
The information presented in this educational material is not intended to be
used as the sole basis of any investment decisions, nor should it be construed
as advice designed to meet the investment needs of any particular investor.
Nothing in this course constitutes legal, accounting or tax advice, or
individually tailored investment advice.
WE ARE NOT RESPONSIBLE FOR ANY GAINS OR LOSSES YOU MAKE.
WE ARE NOT SEBI REGISTERED.
*SEBI Mandatory Guidelines*
*Channel Disclaimer/ disclosure*
No tips
No advice
No recommendation
No PMS advisory
This channel do not provide any tips/recommendations/advice
All updates/posts/discussions are only for education and learning purpose.
Do Consult your financial advisor before taking trading or investing decisions
I am not responsible for any financial losses
Disclaimer/disclosure/terms and conditions applicable to all members of this channel
All rights are reserved
However, this move does not mean that we have entered a bear market. This is still a pull back and we are maintaining the bull run. In the near short term, the profit booking may intensify. If we suddenly slip below 39000 and banknifty spends some time there, then only you can expect shorts to enter the system.
Conviction bearish
Bias neutral
Trade Setup
Long above 39000 (hold your longs if you are in a trade) Target 39500-39800
Short below 38900 Target 38500 and below... Technically you can sit n a short once banknifty starts trading below 39000
>>Option buying<< (take next week options)
Long Position: Buy 39500CE
Short position: Buy 38500 PE
>>Option Selling <<
Sell 40000 CE with 30 point SL
-------------------------------------------
Standard Disclaimer
Trading stocks, options and other securities involves risk.
The risk of loss in trading securities can be substantial.
The risk involved with trading stocks, options and other securities are not suitable for all investors.
The information presented in this educational material is not intended to be
used as the sole basis of any investment decisions, nor should it be construed
as advice designed to meet the investment needs of any particular investor.
Nothing in this course constitutes legal, accounting or tax advice, or
individually tailored investment advice.
WE ARE NOT RESPONSIBLE FOR ANY GAINS OR LOSSES YOU MAKE.
WE ARE NOT SEBI REGISTERED.
*SEBI Mandatory Guidelines*
*Channel Disclaimer/ disclosure*
No tips
No advice
No recommendation
No PMS advisory
This channel do not provide any tips/recommendations/advice
All updates/posts/discussions are only for education and learning purpose.
Do Consult your financial advisor before taking trading or investing decisions
I am not responsible for any financial losses
Disclaimer/disclosure/terms and conditions applicable to all members of this channel
All rights are reserved
