Bank Nifty for July 27th
Hi All,
This is my own analysis as per my understanding of the market, please do your own analysis before taking any trades, as usual LOSS is yours and PROFIT is also yours too...
Market has broken an important support of 36454 today, but trying to take support at next level i.e. 36315, but overall market looks Bearish.
View for tomorrow:
1. Flat Opening: Observe the behavior of the market at next immediate support 36315, if that is also broken, market has to retest that level and then fall, then only go short, if this level is broken in a single candle, pls dont take any trades, wait for market to retrace.
2. Gap Down opening: Need to observe Price action, wait for a retracement and go short
3. Gap UP Opening: This will be a tricky situation, in this situation if Market GAPS UP, chances of SHORT Covering cannot be ruled out, also market will become very volatile, unless and until price action confirms us some direction, better to AVOID Trades.
NOTE: I followed my own Hedging strategy today as the direction is not clear, but ended up in small LOSS.
QUOTE of THE DAY:
There are 4 possible results whenever we take any trade:
1. BIG PROFITS
2. SMALL PROFITS
3. SMALL LOSSES
4. BIG LOSSES
I am OK will first 3 options but if we have to become a successful trader, we have to avoid the 4th option. What say guys....
Reach out to me on 9989647590 for further updates.
This is my own analysis as per my understanding of the market, please do your own analysis before taking any trades, as usual LOSS is yours and PROFIT is also yours too...
Market has broken an important support of 36454 today, but trying to take support at next level i.e. 36315, but overall market looks Bearish.
View for tomorrow:
1. Flat Opening: Observe the behavior of the market at next immediate support 36315, if that is also broken, market has to retest that level and then fall, then only go short, if this level is broken in a single candle, pls dont take any trades, wait for market to retrace.
2. Gap Down opening: Need to observe Price action, wait for a retracement and go short
3. Gap UP Opening: This will be a tricky situation, in this situation if Market GAPS UP, chances of SHORT Covering cannot be ruled out, also market will become very volatile, unless and until price action confirms us some direction, better to AVOID Trades.
NOTE: I followed my own Hedging strategy today as the direction is not clear, but ended up in small LOSS.
QUOTE of THE DAY:
There are 4 possible results whenever we take any trade:
1. BIG PROFITS
2. SMALL PROFITS
3. SMALL LOSSES
4. BIG LOSSES
I am OK will first 3 options but if we have to become a successful trader, we have to avoid the 4th option. What say guys....
Reach out to me on 9989647590 for further updates.
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