Bank Nifty for August 4th
Hi All,
I am posting my own analysis here as per my understanding and knowledge, please do your own analysis and take trades as per your Risk taking capacity, in option trading Account can become zero also, forget about profits, so be careful.
My Analysis on Todays Market:
1. A very tough day today as market moved almost in a range, didn't give any good opportunity for option buyers.
2. On a 3 minute timeframe, a long entry is possible at 10.33 AM why because market has taken support at 37754 and it is also bouncing from the bottom of the Bollinger band, but this move did not sustain and SL is hit at 11.09 AM if we tried this trade
3. Again Market gave a good entry to go long at 13.48 PM on 3 minute timeframe and the setup is exactly as updated in point 2, support and Bollinger band both are in our favor, so can take a trade here and market moved from 37782 to 37982, SL is not triggered in this case.
NOTE: Its very easy to analyze the market once its closed, we need to develop a skill to catch the trend when the market is running LIVE.
ALSO AS UPDATED IN YESTERDAYS ANALYSIS, I didn't take any NAKED trades today, I blindly followed my HEDGING STRATEGY very strictly and ended up in good PROFIT at the day end. Remember PROFIT is PROFIT whether small or big, here every rupee counts. 1 RUPEE PROFIT is always better than 100 RUPEES LOSS.
Please contact me on 9989647590 if you want to learn the RULES of the HEDGING STRATEGY, profits will not be huge but we can expect consistent profits on a monthly basis. Also I will tell you one FREE website where we can Back test our strategies for free.
My Analysis for tomorrow:
As of now market is taking good support at 37754 and facing Resistance to cross 38000 levels. so 37754 to 38000 will be a NO TRADE ZONE. Let the market break any of these levels, then only we will go long or short as per Price action. Otherwise market can consolidate between these 2 levels only. Also if 38000 is broken we have one more immediate resistance at 38180, please make a note of the same.
FLAT To GAP UP Opening: Market should decisively sustain 38000 and 38180 levels and form a Higher High and Higher low formation, then only we can go long.
Gap Down Opening: Market should not break 37754 level on the downside which is already tested many times. SO if the market sustains below 37754 and makes a lower low lower high formation, a correction till 37272 levels is possible.
REMEMBER, tomorrow is expiry and both Call and Put sellers will be very active, if the market goes up, Call sellers will become active and if it goes down, Put sellers will become active, keep trailing your SL and trade with small quantity.
Tip of the Day: NO TRADE is also a TRADE, Capital Protection is most important, if we can learn to protect our capital, PROFITS will follow for SURE, no doubt about it.
TRADING IS SIMPLE BUT NOT EASY, IT SHOULD BE SIMPLE.
Please post your comments in the comments section on my analysis.
I am posting my own analysis here as per my understanding and knowledge, please do your own analysis and take trades as per your Risk taking capacity, in option trading Account can become zero also, forget about profits, so be careful.
My Analysis on Todays Market:
1. A very tough day today as market moved almost in a range, didn't give any good opportunity for option buyers.
2. On a 3 minute timeframe, a long entry is possible at 10.33 AM why because market has taken support at 37754 and it is also bouncing from the bottom of the Bollinger band, but this move did not sustain and SL is hit at 11.09 AM if we tried this trade
3. Again Market gave a good entry to go long at 13.48 PM on 3 minute timeframe and the setup is exactly as updated in point 2, support and Bollinger band both are in our favor, so can take a trade here and market moved from 37782 to 37982, SL is not triggered in this case.
NOTE: Its very easy to analyze the market once its closed, we need to develop a skill to catch the trend when the market is running LIVE.
ALSO AS UPDATED IN YESTERDAYS ANALYSIS, I didn't take any NAKED trades today, I blindly followed my HEDGING STRATEGY very strictly and ended up in good PROFIT at the day end. Remember PROFIT is PROFIT whether small or big, here every rupee counts. 1 RUPEE PROFIT is always better than 100 RUPEES LOSS.
Please contact me on 9989647590 if you want to learn the RULES of the HEDGING STRATEGY, profits will not be huge but we can expect consistent profits on a monthly basis. Also I will tell you one FREE website where we can Back test our strategies for free.
My Analysis for tomorrow:
As of now market is taking good support at 37754 and facing Resistance to cross 38000 levels. so 37754 to 38000 will be a NO TRADE ZONE. Let the market break any of these levels, then only we will go long or short as per Price action. Otherwise market can consolidate between these 2 levels only. Also if 38000 is broken we have one more immediate resistance at 38180, please make a note of the same.
FLAT To GAP UP Opening: Market should decisively sustain 38000 and 38180 levels and form a Higher High and Higher low formation, then only we can go long.
Gap Down Opening: Market should not break 37754 level on the downside which is already tested many times. SO if the market sustains below 37754 and makes a lower low lower high formation, a correction till 37272 levels is possible.
REMEMBER, tomorrow is expiry and both Call and Put sellers will be very active, if the market goes up, Call sellers will become active and if it goes down, Put sellers will become active, keep trailing your SL and trade with small quantity.
Tip of the Day: NO TRADE is also a TRADE, Capital Protection is most important, if we can learn to protect our capital, PROFITS will follow for SURE, no doubt about it.
TRADING IS SIMPLE BUT NOT EASY, IT SHOULD BE SIMPLE.
Please post your comments in the comments section on my analysis.
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