Bank Nifty to Go Higher Further

Look at the chart, NIFTY is already touched all time high and bank nifty to follow. November 4th it broke the accumulation range and started forming HH and HL. Momentum is too good. I thoughi it might correct today, but it is a gap-up open today and most of the day it remained within the opening range (or forming a typical day_) and closed little higher than the Initial Balance Range. H and C are same. no doubt of looking back. Session Volume value zone consistently moved higher . So far 5 Higher Value zones. as the momentum is high we can suspect s small interim correction before moving further. Price is clearly far away from the Ichimoku Cloud . that is another confirmation of mark-ups.

We can expect 3 things to happen next
1. Market can go in range
2. Gap up gain and move ahead with conviction
3. Correct and move ahead.

For options, you can write puts. you can buy call,
or you can go for bull call spread
BUY CE @ 27700 and SELL CE @28000

Prob. of Profit - 83.58%
Max. Profit - ₹ +4,674 (33.95%)
Max. Loss - ₹ -2,825 (-20.52%)
Max. RR Ratio : 1:1.65
Breakevens : 27575.0
Total PNL : ₹ 0
Net Credit : ₹ 0
Estimated Margin/Premium : ₹ +13,767

recent news on Vaccine optimum will push the market higher too...


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