BANKNIFTY can be SHORTED!Hello Guys!
This idea is for all who wants to get a position in the markets esp in banknifty and doesnt knows what to do. Here is a plan.
If a price falls 7 days and gets a big candle which is often related as tweezers or marubozu and this pattern in days chart cant be said as bullish harami, In this usual scenario i have tried to show by brush what can happen, I feel onto my thoughts and after having rigourous test, if a candle moves curved and that to in downtrend, it tends to restest the lows in a fiscal week or fortnite UNLESS a 4hour candle breaks out with volume which nullifies the pattern.
I feel one can short BNF here with FUTURE contracts with SL 37276 and targets of 36372 can be seen.
WHERE have i found this price action? - Its all rigourous testing and price action timing. Will update if it worked!
Bnf
Nifty50 bearish sentiment and parallel channelnifty50 Parallel channel,
next biggest support at 16000 only.
some small stoppages: 1st stop is 16700 tomorrow.
then 16400, then 16000.
Its a bearish sentiment and BEARS dont take much time.
For intraday trader's first booking zone is 16700.
For Positional trader, keep adding more once we start trading below 16700 then add more below 16400, trail till 16000,
keep it hedged, future with puts.
naked puts as debit spreads of 15500 levels or more far.
#trading_skull
#nifty #nifty50
BNF bank nifty showing another triangleBank nifty today reputed same pattern Triangle and closed at edge of triangle, so tomorrow if its start with spot where i close and 5min bullish we may see up move or if its gap up gap down and cross the pattern it may take direction as CPR is very right for tomorrow we may expect volatility.
Above are my personal observation posting my study if it can help someone :) not my recommendation to take trade accordingly.
Bank nifty move will be sharp and directional on Monday. tomorrow i will trade with more than 80% of my trading capital with directional trade.
Why?
Because of last day bank nifty plot a master candle and after master candle there is a high probability of one side sharp move.
so you can trade with a good quantity out of the range of 35200 and 34900.
Bank Nifty 19/04/21 MondayTrade Wisely And Smartly .
Clearly the trend is bearish small bounces may occur , but overall market is in panic mode.
Stay wise Buy on dips wont work, use option strategies to hold overnight.
Dont go for naked option buy or sell.
The levels are given ,which can be seen in todays session or tomorrow.