BN 2nd low gap around 35500 filled-up quickly. 3rd low gap around 33250 may be filled or may not !
Not sure, but if this high Bond Yield drama subsides quickly then FII and FPIs may lap-up good stocks in EM including India - perticularly PSUs and Banking stocks in coming days thru Big Block...
Remember BN_Wkly19Feb2021 PitchFork chart ? That may spans from Mar thru May2021 - if something goes wrong in global markets .
Todays may be profit booking and Gap-Filling day - Hopefully !
Logically 35000 to 40000 block should be filled-up in coming days - with a posible extention towards...
BN is abv 37000. Max Pain of 25Feb expiry is below 36000.
Either Max Pain is distorted or Writers of BN has to bring it below 36000 today itself !
Waiting patiently for a proper trade entry in 4Mar expiry ! 38000CE in my watch-list !
The Technical Glitch has underlined the importance of implementing the importance of Extended Working Hours for FnO segment like other Global Stock Exchanges and also the need of GIFTcity exchange in Gujrat ! :)
Was expecting todays Bullish recovery from tomorrow 11:30 afterwards, as mentioned in point 2 in last message. But biggies pre-poned it today only ! Luckily saw a freak gap-up trade in index in 2nd pre-open and adusted my trades accordingly !! :)
Now if no GAP -DOWN or no range-bound trade...
Only for my Trading:
1) On 24Feb , would avoid LONGs in N and BN and posibly prefer SHORT with proper SL - if chart 30m permits.
2) On 25Feb expiry, would try LONGs in N and BN after 11:30 onward using very cheap CEs without SL.
3) From 26Feb onwards, would prefer LONGs in N and BN.
Waited for some lower price in BN 04Mar 34000PE !
From low of 154 to high of 215.
Quick 50 points in just an hour ! :)
If 34500 to 35000 support hold and consolidation phase visible, then will avoid shorts.
May be 35000 to 40000 bullish formula kick-start again !
Till then , Will wait for...
May be a 2-month long Pitchfork - spaning from Mar to May 2021 - if unfolds ! :)
For newbees - for more info search for:
"Apart from Andrew's Pitchfork there are variations like the Schiff Pitchfork, the Modified Schiff pitchfork and the Inside Pitchfork."
OK ! Same prvs Wkly chart using another Web site showing Period Span !
Though it is not for Day-to-Day trading , but hope now it is not cryptic ! :)
By the way, if downtrend continue then BN 34000PE is on my watch-list at a bit lower price than the current price !