Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
Whats your expectations approximately, as you mentioned good correction ?
Is it 10-15% or little deeper ?....
Personally i feel still one upmove is pending, so i am betting around 11500 for long side SL below 11300..for 12345... Looking at global market sell off , in European market , this trade most likely to fail so trading 1/2 qty...
Is it 10-15% or little deeper ?....
Personally i feel still one upmove is pending, so i am betting around 11500 for long side SL below 11300..for 12345... Looking at global market sell off , in European market , this trade most likely to fail so trading 1/2 qty...
The following is my analysis and I am sharing it because you asked.My analysis can (and does ) go wrong so anyone should not trade based on that and they should trade based on their charts and stoplosses. I have no interest in biasing anyone's views and trading/investing actions.Market is dynamic and the analysis changes as the moves unfold but analysis helps us to have a larger canvass to look for.I liquidate/take positions based on my analysis but anyone should do their own analysis before they act on it.
I had said that we are in a last wave of the current sequence of 5 waves.So after this sequence is over, then correction is definite. Now the question is whether we have finished the last wave up or 1-2 small upmoves are still pending.The answer to this will come if 2-4 trendline gets broken ( currently it is at Nifty 11300 it is an ascending trendline so will go up as time passes.) If it gets broken violently, then we are likely to dip below 11000....may be 10-12 % from the top......so I am watching that trendline very carefully.........
Having said the above this upmove is not the final upmove and the bear market likely to start......after the correction we will have another upmove which will take out the all time high...........
So as you say 1 more upmove may be pending if this 5 wave sequence is not over......the market will answer the above questions as it unfolds......
Smart_trade
I had said that we are in a last wave of the current sequence of 5 waves.So after this sequence is over, then correction is definite. Now the question is whether we have finished the last wave up or 1-2 small upmoves are still pending.The answer to this will come if 2-4 trendline gets broken ( currently it is at Nifty 11300 it is an ascending trendline so will go up as time passes.) If it gets broken violently, then we are likely to dip below 11000....may be 10-12 % from the top......so I am watching that trendline very carefully.........
Having said the above this upmove is not the final upmove and the bear market likely to start......after the correction we will have another upmove which will take out the all time high...........
So as you say 1 more upmove may be pending if this 5 wave sequence is not over......the market will answer the above questions as it unfolds......
Smart_trade
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As per your observations and suggestions I am going to aggressively buy calls now.
) not to worry ,just kidding, in fact as per my own observations I am buying next week calls ( bought actually 25000ce at 235) lets see the day unfold. i currently expect bnf to inch towards 24500 ,maybe+
) not to worry ,just kidding, in fact as per my own observations I am buying next week calls ( bought actually 25000ce at 235) lets see the day unfold. i currently expect bnf to inch towards 24500 ,maybe+
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