BankNifty

Nish

Well-Known Member
Again 5m chart magic in-built PANIC factor in BN :

03Jun2021 35000PEs from todays low of 93 to a high of 217 till now !

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Nish

Well-Known Member
As expected in prvs post BN slide down, BUT BN looks range-bound btw 34500 to 36000 on 30m chart.

Last week made lower high, lower low, but yday tried making higher low, hifger high.

Axisbank and ICICIBank trying to move upward , BUT it has to be seen , IF it helps BN to move up or not.

Posibility of a MEANINGFUL up or down move levels are shown on the chart.

By the way, as expected Bhartiartl moving up !

ICICIbank and Mindtree CEs in my watch-list.

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Nish

Well-Known Member
IcicicBank 640CEs from ydays low of 8.25 to todays hogh of 14.7.

Mindtree from ydays low of 102 to todays high of 117 ( Not much ).


BN yday visited lower boundry around 34000 (34400) and again moving-up back towards upper boundry 36000 (35300), as per Range-bound expectation in prvs post !


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Nish

Well-Known Member
For my Trading and Positional LONGS, Aviation sector stocks in my Watchlist !

N and BN in range-bound mode, as posted in prvs post, so avoiding Options due to un-reliable Vix management.


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Nish

Well-Known Member
Indices refused to fall even after large selling by foreign funds, ONLY with the help of local funds and retail traders !

BN cp 35010.

Current week BN moves were , as per given view in last chart till now.

For my own trading pupose, my next 8 days view of BN is shown in ATTACHED CHART , with posible Support and Target zone.

Long Trades should be strictly with poroper SL in FnO !

Note: Some un-cetain and un-known local or global events can negate this view.

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Any chances for BN to rise or fall suddenly in the forthcoming days? Anybody have any ideas? Know it’s uncertain to predict perfectly,just looking for others' views on it.
 

Nish

Well-Known Member
Any chances for BN to rise or fall suddenly in the forthcoming days? Anybody have any ideas? Know it’s uncertain to predict perfectly,just looking for others' views on it.
BN cp = 35212

1) As per last BN 30June2021 posted here, the trendline from 32130 to 33915 onward suggest that immediate supprt is around 34400 +/- area.

2) But ideal upward momentum long trade should be more robust, if one or two more dips towards 33915 +/- happens in next 7 working days.
One can see such good long trades were found around 30540 and 32130 areas prvsly in last chart , marked by double underlines !

3) The problem, with nkd long CE position in BN is, CEs are not giving much returns percenatge-wise, due to low volatility.
So solution is to Buy ATM CEs and Selling OTM CEs, to reduce the cost, IF ONE THINK about LONG trades in BN !

4) If selling options is not posible for most retail traders , then only option is to use proper SL , as mentioned in my last post !

5) In currnt situation, I prefer ONLY INTRADAY LONG trades on reasonable dips with a proper SL !

But N is MORE tradable than BN in this week, to be FAIR ! :)

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