Banknifty Trade Setup for 19.08.22 with intraday levels
Massive movement in both direction and banknifty gave profits and hit SL on both sides. Market mood was super bearish right from the opening and people aggressively shorted right at the opening. This led to the major short covering in the first hour itself. Movement was big enough to start some profit booking which gave bears the chance to capitalise given the overall mood of the market still was bearish. The important level was the low nifty made in the first 30 mins of the opening. Once that was protected both indices shot up massively. One of the take home points is that nifty got resistance at yesterday's high. Overall banknifty is the beast. 39675 is important but fresh shorts will come only after 39557.
It would be very tough to go beyond 40000 if Nifty doesn't stay above 18000 and DOW does not sustain above 34000
Conviction bullish
Bias bullish
Trading Ideas
Long above 39700 Target 40000-40250
Short below 39500 Target 39300
>>Option buying
Long Position: Buy 40000 CE
Short position: Buy 39500 PE
>>Option Selling
Sell 40000 CE and 39000 PE set 50 point SL in both
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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.
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*SEBI Mandatory Guidelines*
*Channel Disclaimer/ disclosure*
No tips
No advice
No recommendation
No PMS advisory
This channel do not provide any tips/recommendations/advice
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Do Consult your financial advisor before taking trading or investing decisions
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It would be very tough to go beyond 40000 if Nifty doesn't stay above 18000 and DOW does not sustain above 34000
Conviction bullish
Bias bullish
Trading Ideas
Long above 39700 Target 40000-40250
Short below 39500 Target 39300
>>Option buying
Long Position: Buy 40000 CE
Short position: Buy 39500 PE
>>Option Selling
Sell 40000 CE and 39000 PE set 50 point SL in both
-------------------------------------------
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
Group Admin or Members not responsible for any financial losses
Disclaimer/disclosure/terms and conditions applicable to all members of this channel
All rights are reserved
