BankNifty Analysis - Stance Neutral ➡️
Even though the 4mts chart looks bullish as the moving averages have a positive slope, the reality is quite different. BankNifty has not managed to find the fire to go “BOOM BOOM”, it is totally lazy and lethargic at its current levels. Today we ended up gaining 150 points ~ 0.32% but a few of the major banks like HDFC Bank,...
Banknifty on the other hand gave a trend reversal signal in just a day. For nifty we had atleast 3 days in succession. I took some short positions yesterday intraday and was all geared up to further attack by shorting more CALLS today.
The opening minutes looked encouraging, so did the period from 10.35 to 11.15 but 2 things went against it.
The options data...
Hope you have seen the last post for entry and exit.
Take a look again at yesterday post and look today's chart it has not crossed the 43950 level and on buy side it crosses 44050 level and go till 44120 level if you are smart and not greedy you have booked some points after 44050 level.
Again the levels are same which are marked on chart buying...
There are few important aspects to the price action today. We stuck to a small range today - it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers.
So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action from the previous session.
As soon as we hit the last...
NiftyBank One Hour Chart Analysis with Option Chain Analysis
Frist Support Level For For Long Banknifty - 40355 - 40390
Second Support Level For Long Banknifty - 40040 - 40075
Third Support Level For Long Banknifty - 39690 - 39750
First Resistance Level...
As you know Nifty is taking support from this trend line again and again. If it goes directly above horizontal line then you can directly make a long position but if it comes down then wait for nifty to test trend line and when it tests and shows a good green candle on 15min time frame you can make a long position in Nifty.