BankNifty

[Nish]

As expected in last post BN stayed positive in first half and some correction afterwards !

Support exist around 31460 to 31580.
Range is upgraded to 31500 to 32450 !

Many 14Jan Near Money CEs were green today.

Yday 14Jan BN 33700CE low was 17 and high 55.

Todays low 27 and high 49 !
Now again around 29.

Again 64 plus ? Maybe ?

View Strictly for STUDY PURPOSE !

 

[Nish]

Iff BN is in the process of making a Double Bottom, then it may come back towards 31500 +/- after touching 32330 something ! SL for long is must !

View Strictly for STUDY PURPOSE !

 

[Nish]

BN posible moves on chart !

@PT - Educational Thing is always a HOLY THING !

View Strictly for STUDY PURPOSE !

 

[Nish]

As expected in last post and chart, BN moved downward. And Gap around 31840 is filled-up !

Chart shows posible moves in next few days.

For me, 21Jan BN 33500CE and 34000CE looks interesting with proper SL !


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[Nish]

As posted in last chart, BN completed 32460 to 32600 range , once it was abv 32122 !

Also BN 21Jan 33500CEs and 34000CEs rocking from yday and today !

For me, It may be better if, BN slips towards 32100 +/- intraday for entering long again !

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[Nish]

As expected in morning, BN went down till 32150 ( towards 32100 +/- ) !

Now again 32500 plus today or tomorrow ?

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[Nish]

As anticipated yday BN went upto 32600 plus, then as expected afternoon went down till 32100 +/- , then as expected again went up 32500 plus ( 32600 plus actually) !

All 21Jan 33500CEs and 34000CEs gave fantastic profits twice as mentioned erlier

Done for today !

Hope many SILENT and INTERESTED new viewers STUDIED the charts and trades properly to improve their option trading skills to start FISHING them-selves !

Y-Tube is full of many technical trading tutorials - which can improve BankNifty option trading - which requires utmost attention on Daily Basis !!

Note: AmiBr , Trading Terminals and different APIs hardly matter in dialy trading - perticularly Option Trading - All that need is Practice and Patience to know and enter proper Trades at Proper Entry lvl and Exit at Proper Exit lvl - Whether in Profit or without lossing capital ( If a trade is NOT successful ) !!

Wish ALL Best LUCK !

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[Nish]

BN 30m chart shows BN is taking support on exact trendline from last many days.

If support held , then again upside journey ELSE more downside till next support ! In any case , Be CAREFUL with PROPER SL. Volatility may rule till comming BUDGET !!

Comments on the chart.

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[Nish]

1) Intraday Temp trend is down, but BN staying above 31266 (34 DSMA) may lead upto 31486 +/-.

2) BN staying below 31022 (34 DEMA) can slip-down towards 30880 upto 30622 +/-.

3) ADX and MacD both negative.
Stochs nearing OS level.
Avg ATR 550.

BN levels for 28Jan expiry week on the chart.

Un-sustainble pull-back on upper-side may be good for playing for more downside - for me !

Due to truncated next week , beware about option premium time decays.

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[Nish]

As expected in last post market is trying to go and remain above 31500 +/- , DO NOT KNOW if it will remain so !

Today morning BN gave some chance to go long in 04Feb 33500CE at 69 and went high above 100, but since Open=High is same, therefore avoided the urge to compulsive trade.

And that is important in such volatile market before any big event - Just a hint for New Traders!

Instead opted for intraday long cash trade and Booked just now!

Attached a small Tuto of Ichimoku BN positional Buy Breakout posibility.
Hope it may help some new traders in future ! ... Just 2-bits from me !


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