Gapup opening today initially profit booking and then broke downtrend line in 5 min candle frame !!!!
Now time for fresh buyers to enter Looks good
32800 Pe short at aroung 130- 140 sl at 160 not more than that !!
trade with strict stop loss dont forget to keep stop loss!!
FORMING BIG BULLISH INSIDE CANDLE :
SHORTING PE COULD GIVE OPPORTUNITY TO HOLD TILL IT BECOME ZERO AS TODAY EXPIRY
DONT SHORT IF PREMIUM IS BELOW 100 RISK TO REWARD WILL BE SMALL IF
IF IT IS AROUND 130-150 THEN TILL BE GOOD WITH 165 AS STOP LOSS WILL ABLE TO CAPTURE NEARLY 120 POINTS
REMEMBER ONLY TAKE ENTRY IF THE 30 MIN CANDLE NEW CANDLE BREACK THE 32660 LEVEL
short 13900 PE currently at 51 with 56 as stop loss and target of 10 - 15 points
In previous trade plan posted got 15 point so take a chance of SL of 5 points and target of 15 points
if new trade avoid as it may go sideways but looks good to me
Firstly profit booking pullback is over and looking like it will continue its uptrend !!!!
also given macd buy in 15min along the trend + RSI above 60 bullish could be breackout i am assuming
took 100 QTY at 593
genrally my target would be 599 as 6 points target but there is also breckout so better to trail 2.5 points profit if it crosses...
I hope nifty crossing 13600 be a false break out Hope nifty open below 13600
hope it breaks the trend line and has the good shorting opportunity
I'll short 13600 CE with stop loss with 10 points as stop-loss ill update the level I enter for 1st half only ill hold is trend line break as tomorrow the option otm will get zero
in the second half maybe there...
Hope market opens flat or small gap-down. Big gap up then don't trade or see price action and enter
As after a fall, there are continuous resistances upside trend and tomorrow is option expiry
My view is negative tomorrow
but hope the first half is : sideways
then 2nd half :
if the bank nifty cross 29800 then big bearish downtrend till 29000 or 29100 ...
BANKNIFTY IF OPEN FLAT THEN ITS BUYING CAN HAPPEN BUT 30000 ROUND LEVEL RESISTANCE WILL BE PRESENT SO BETTER EXIT AT 29950
IF MARKET OPEN GAP UP THEN FIRST IT WILL COME FOR-PROFIT BOOKING AND FRESH BUYERS WILL COME AFTER 10 AND THE MAY GO SIDEWAYS THEN UPTREND TILL AROUND 30000
I THINK IT WOULD BE BETTER IF OTM PE 29500 SHORTING
IF GAP DOWN THEN SIDEWAYS...
Banknifty still having selling pressure Don't even think to buy any bank nifty future or CE . Even Dont buy bank stocks for now
If the market open flat or small Gap up or Gap down then we can still short it or other bank stocks like axis , icici , kotak bank short
Gap level's indicated by blue lines
Wait for a signal if you are trading on indicators for...
already falled much 2 % is big now it will go uptrend to sideways
Took trade at 507.50
stoploss of 505 : 2.5 points
target of 512.50 : 5 points
RR ratio : 1:2
banknifty also at important 30400 round level support if bank nifty also help can trail to big target of 10 points
nifty 13800 round level resistance and also broke the bullish trend line. This could be a retracement and could also fill the previous gap
better to watch in a smaller time frame 5 min. if macd indicator gives sell signal in 9.30 to 10 .30 am then only short nifty 13800 or 13750 CE
Nifty broke trend line but this doesn't mean it you could short it immediately...