Good morning all, Friday: A huge Gap down entry denied us 2 targets. But life is such and so is BNF. Tomorrow: Again we are have the RSI at around 50 suggesting a move on the either side. On the long side, we wait for 38450 to see some incremental benefit and on the short side the set up suggests a move below 37940. So; Long side view: Buy above 38450 Target 1...
BankNifty opened with a small Gap-down and we saw selling in the morning towards the 38400 zones which acted as support and BankNifty remained in a 100-150 points range throughout the day. Trades we took today - > Bought BankNifty 38700 PE at 520 which went towards our First Target 570 and Traders booked profit in this Trade > Bought BankNifty 38800 CE at 400...
Good morning All, Last week: Our long move did qualify the entry level and had a pullback from the RSI 70 resistance level. However, lack of any momentum made a sluggish index This week: Our entry moves up this time to the target set last week and wait for it move from there to fetch ~500 points. This is dependent on the momentum we achieve and RSI crossing...
BankNifty opened with a Gap-up above 38700 and after some consolidation, we saw a follow-up upmove towards 38850. It was a range-bound day so not much opportunity for Option Buyers. Trades we took today - > Bought BankNifty 38900 PE at 350 which went above 400 but only a few Traders could take the position as it moved fast > Bought BankNifty 38400 CE at 440,...
Good morning all and Happy Makar Sankranti, Yesterday: We made 2 targets n then the market went in range. Not exactly a volatile expiry. Today: Again we have a decent setup offering us a potential trade on both sides. The RSI hovering around 50 is also a good indicator of that. Another possibility is the range between 38250 and 38550 that may stick...
Good evening all, Today: I didn't post anything last evening because there was nothing new to post. Our Chart from yesterday bore fruit today. Tomorrow: The market trading in a very narrow range of 200-250 points is very unlike BNF. Something's gotta give. May be tomorrow. For the long Position, refer to my weekly chart as well. If it sustains above 38850 then...
BankNifty opened with a big Gap-up around 37950, gave follow-up upmove in the morning and we saw some selling but again taken support near morning low and closed above 38300. Trades we took today - > Bought BankNifty 38000 CE at 490 which we booked with 60 points loss > Bought BankNifty 38400 CE at 290 which we booked with 30 points loss > Bought BankNifty 38300...
Good morning all, Yesterday: Like we predicted, A quick move early in the day and then range bound till the last 45 minutes. The good and bad of that is..... RSI has stayed above 60 but the price has closed at a STRONG resistance zone. Today: We wait and watch. On the 'Long' side, entry above 38450 ONLY and please do wait for the price to close above that level....
Good morning all, Friday: Our Target on the long side was met and then index went into a range. However, it created a structure for us to potentially trade on today. Today: We may see some quick movements and then mostly a range bound. Why?, Because Index is hovering around the resistance area and RSI at 56. and the short is way down below. So; Long side...
Good evening all, Today: Upward momentum broken and nicely poised for tomorrow. Like I mentioned, profit booking early in the day. Tomorrow: We may see a range bound market between 37890 and 37000. For any good movement on either side, we need these levels to be breached. RSI too at 56 and can go any direction from here. So; Long side view: Buy above...
BankNifty opened flat, started moving upside since opening and we again saw a great 1000 points move. Trades we took today - > Bought BankNifty 37300 PE at 340 which we went above 400 and Traders booked profit in this Trade > Bought BankNifty 36900 CE at 490 which made a high above our last Target 625 and Traders booked great profit in this Trade > Bought...
Good evening all, Today: For the 3rd day in a row, momentum carried through and gave us 700 points today from our entry level. Tomorrow: First weekly expiry of the year and we may see some volatility basis earlier momentum and profit booking. So be careful. 'Long' will be sustained only above 38000 and there is absolutely no clarity on 'Short'. I will update...
BankNifty opened flat and after a choppy move in the morning, BankNifty gave a good up-move and faced resistance around our last level 36880 and remained in the range. Trades we took today - > Bought BankNifty 35400 CE at 390 which we booked with 50 points loss > Bought BankNifty 36800 PE at 430 which we booked with 40 points loss > Bought BankNifty 36500 CE at...
Happy New Year All, Last week: We saw a climb from 34230 levels making a nice structural set up for a potential move. This week: Our entry point on the North side is above 35700 with T1 at 36000 and SL 35480 making it a good RR. Down south, entry is only below 33900 as we have seen support at 34000 previously, The target there is a good 600 points Between...
Good evening all, Today: Again a good run on top making us achieve 1 target intraday and 3rd target on the weekly chart. Tomorrow: Again, the market is at a critical reversal point but RSI has some headroom above. If the market reverses from here, we look at 2 important aspects, RSI breaking down on 60 and index below 36260. Below that, we again may even see...
BankNifty opened with a minor gap-up today near 356100, we saw a minor dip in the morning and then it was a trending day and BankNifty was forming higher highs throughout the day. Trades we took today - > Bought BankNifty 35400 CE at 480 which we booked with 50 points loss > Bought BankNifty 35700 PE at 360 which we booked with 30 points loss > Bought BankNifty...
Good evening all, Today: We had a very good run today post breakout of 35700. Like we had expected and fetched us 3 targets. Tomorrow: (Look at the chart intraday chart for (03-01-2022 for reference). The market is at a critical reversal point and with RSI already over 80 making it a good candidate for correction. How much that will be is to be watched and...
Good evening all, Last week of the year: lesser said the better. No direction and momentum that only suited an option seller. Tomorrow: We again may see a range between 35700 and 35300 making it NOT a very good start to the year. Our entry is only above that up to 35815 with a RR of little above 1. On the short side, tooooooo much noise and nothing till below...