BankNifty

Nish

Well-Known Member
BN rebounced from days low towards 37924+ as expected !

Pure option Writers psychological game to throw-out weak hands of small traders ! ... Better try to understand these tactics and play the Markets for Pure Profits - if spreads are not used !!

Atleast place proper SL and re-enter at lower levels , if the levels and direction is correct !

BN 38000CEs from lows of 143 to high of 275+ ! .. 130 pts per lot !! :)

But N remained subdued !

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
Though BN is not bearish on daily chart, but still it slipped towards 37000 ! Not traded - my bad !

But N gave fantastic downside as was expected due to RIL slippage !

Pure tapering tantrums and global meltdown in play as the whole world in on the cliff point - politically as well economically only due to extensive liquidity bubble and posible rise in Bond Yields - as was mentioned in my prvs post !

Could have been avoided by central banks - which they may wake-up now onwards , Hopefully !

No overnight positions due to over-shooted Vix ! Precious metals may be some hope - positionaly till March-2022 .

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
N cp=17562.

For my own trading , I consider:

Though global scene has turned mild bearish, but N staying abv 17580 may head towards 17620 to 17680 range , with proper SL.
ITC and RIL may play pivotal role for this view.

BN cp=37235.

BN staying abv 37280 may head towards 37600 to 37800 range, with proper SL.

Be careful due to un-certain Vix.

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
After touching towards 17950 N cp=17853.
BN also after touching high cp=37830.

Snsx made history by closing abv 60000 !

Booked all LONGS !

Though both indices are still in positive zone, On Monday onwards would be causious with LONGS !

10Y US Bond Yields inching higher.

Expecting Crude oil and Gas moving upwards causing concerns for non-oil producing countries !

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
N slipped towards low of 17650 from high !
BN slipped towards low of 37603 from high !

I had already cautioned about LONGs !

Booked Shorts ! :)

Crude towards high around 80 , more to go !
US 10Y Bond Yields is up sharply towards 1.40 !

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
N cp=17701.
BN cp=37709.

Stocks AD positive.

Not traded today.

Not for this expiry, But Personally would avoid POSITIONAL shorts - with proper SL !

View strictly for STUDY PURPOSE !
 

Nish

Well-Known Member
N logical support range is 17254 to 17326.

A bounce towards 1st resi 17585 and abv that 2nd resi 17742 is posible as shown in the attached chart .

Condition RSI should remain abv 45 to 50 range !


BN : If RSI remains abv 50 with trendline support remains intact as shown in the attached chart , then a posible bounce can take it to 37380 plus.

Since bullish trend is still intact, some intraday short trades gave some small profits, but a single BULLISH trade in 2nd half was much better ! :)

Lesson: Be patient and Better try finding LONG opportunities with Buy-on-dip strategy in Bullish Markets !

View strictly for STUDY PURPOSE !
 

Attachments

Nish

Well-Known Member
N cp=17730.
BN cp=37630.

As excpected in last post, both indices upsurged, and avoided POITIONAL SHORTS !
Again AD is positive.


N has scope uptp 17760 plus.
BN has scope upto 37800 plus.

Booked LONGS in both ! :)


View strictly for STUDY PURPOSE !
 
Last edited:

Nish

Well-Known Member
In 1st Oct2021 chart:

N 2nd target was given 17742, last seen was 17828, so completed and surpassed !

BN 2nd target was 37780, last seen was 37729, almost complete !

BEST LUCK to ALL ! :)

View strictly for STUDY PURPOSE !
 

Similar threads