As we already discussed if market sustains above 38800 it will act as a support and we can go long...
How many members followed this let me know..
Short calls at 39800 levels and stoploss will be if 40000 above sustained.or closed.
Always go for hedge in option selling to minimize your risk.
Banknifty sustained above resistance level 39800.If it sustain above 39800 for 1 hr we can start shorting the puts.
SHORT CALLS AT Higher levels for hedging and go directional trade BULL side for only short term.
STOPLOSS WILL BE CLOSING BELOW 39800
Nifty is in weakness range bound.Nifty is closing near to 16900 Almost 3 to 4 days which is good support and trying to break if nifty break 16900 you can expect a big move and we can go for option buying at At retest of 16900 as resisatance y because at every restest we have some intensified fall ( if the breakout is real).
You can see the that bank nifty is currently taking the support that i have mentioned with black line so downside you can sell the puts of that mark and keep the calls selling at higher range that is 39800.you can go for strangle if it holds the given range for 1st one hour.
simple analysis.
Dont panic and dnt take stress.
#theme of my analysis.
A very good is identified in the lupin to retest the resistance level.checkout in the daily time frame.If it sustain above the trend line with strong bullish candlewe can enter at restesting of trendline always with strict stoploss.
Bank nifty failed to sustain above the resistance which is crucial level for bulls.Formed shooting star in the daily chart.
When the bank nifty is below 39800 it is better to short 40000 calls.If Banknifty fails to close above 39800 tommorow we can expect this monthly expiry in the range 38500 to 39800 i.e range boundness.
WE CAN SHORT PUTS AS IT CAME OUT FROM CONSOLIDATION ZONE.
THE consolidation zone was 38800 to 39900.
Now the BANKNIFTY took the support at 39900 we can expect the range from 39900 to 41000 range.
Just observe the range given clearly.
Once if market reaches 41000 the martket may fall some what intensively if bulls fails to break the brearish trend and possibility...
