Positional View #NiftyFutres for Dec Series. Nifty Fut Triggers Point are 12100 is a Buy Break-Out Zone & 12060 is Break-Down Zone. kindly refer to the chart posted for a graphical understanding of above.
Let's discuss 2 possible Trade Setup.
1) Nifty Fut Break-Out above 12100 mark - > Heading for a Tgt of 12240 - 50 on fut basis.
2) Nifty Fut Break-Down Below...
As discussed yesterday , bank nifty made a low near our support zone but it was very late in the day so I doubt if anyone would have made any money out of it. Bank Nifty tried to break our decider level twice but could not close 15 min above it. Overall a very dull day where bank nifty stayed in a range of 50-100 pts all day.
Decision range
31198-31272
Support...
Positional View #BankNiftyFutres for Dec Series. BankNifty Fut Triggers Point are 31940 is a Buy Break-Out Zone & 31860 is Break-Down Zone. kindly refer to the chart posted for a graphical understanding of above.
Lets discuss 2 possible Trade Setup.
1) Nifty Fut Break-Out above 31940 mark - > Heading for a Tgt of 3210 / 32700 on fut basis.
2) Nifty Fut...
With Uncertainities related to US-CHINA Trade Deal Nifty has closed below 20 DMA on daily charts.
Looks like it is heading towards 50 DMA and is a SELL.
Whether it will sustain at 50 DMA would be determined by the outcome of trade deal which hopefully looks positive.
Or not?
Let the Presidents of the two most powerful nations decide the fate of markets worldwide.
Bets on the 15th Dec trade deal deadline turning ugly? US-China bhai bhai?
RBI coming to the rescue before 2020? regret not cutting rates?
The negative view on Bank Nifty
Note: It will fill the gap zone: 30750-30850 for sure buy when is a ?
Plan A: I already have a position in 30800 put writing and 31500 call writing.
Plan B: Sell Fut when it will test 31500 for the downside targets of 31100-31000
Nifty - Sideways to Negative
Plan A: I have a position in Option Writing in the 11850-12000 zone. there are multiple supports below 11900 and multiple resistance zones above
12000 so I preferred to take a position in option writing.
As discussed yesterday , bank nifty made a low 20 pts from our support of 31099 and made a high 20 pts away from our resistance level. Low for the day was 31122 and high was 31537. It managed to enter decision range but never threatened to turn a range day into a trending one. Overall good day
Decision point for the day
31335
Support for the day...
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