protrader1969

protrader1969

Hi, first about today's move in Bank Nifty (BNF)- I had said in my yesterday's post that I expected it to be Bearish. I was proved wrong. Today after openning downslide, Nifty and BNF stabilised and then started a steady upmove which went from strength to strength. When it actually turned bearish, it was a case of too little too late. Little because from R2 it...

protrader1969

Today is not the day when you jump into trade at begginning, like yesterday was. Wait till BNF shows signs of tiring at higher levels...then short. trade after 9.30 am. watch moves on 5 min chart.

protrader1969

Hi friends, let's determine direction first and then we will look for trading levels. First data that I will refer to is FII and DII Buy/ Sell figures as given NSE. Why is it important? Because for past 2 days, FIIs and DIIs were net Sellers and that stemmed the fall. Today's provisional figures show net buying by both FIIs (+216.2 Crores) and DIIs (+170.62 Cr)....

protrader1969

I hope people trading BNF as outlined in my posts have book profits. Target of 30925 reached!

protrader1969

As explained in 'Bank Nifty at Crossroads I and II' BNF went down after touching R2. NOw book profits at around 30925. Not that it will not go further down but why take risk unnecessarily after getting a solid move of around 400 points? 30917 shows first sign of support, so book profit!

protrader1969

Please read this as continuation of earlier post published yesterday. The chart is of NIFTY! Yes, that is deliberate because I want to corelate NIFTY move with BNF (Bank Nifty) move. Also after that I will talk about option chain analysis of BNF & NIFTY. NIFTY is at 11870, A good Resistance (R1, on Chart) is somewhere around 11,960 (i.e. 90 points above CMP) and a...

protrader1969

BANK NIFTY is exactly in middle of its Supports and resistances. As Bank Nifty chart shows, we have a 300 point (approx) upside and downside from current levels. So, I think, here is how one should trade it- Case1) If it opens gap up- If BNF (Bank nifty) opens gap up, there is an upward bias and it might go up and as it reaches Resistance area, SHORT (or Buy PUT...