UNITED STATES OF BANKNIFTY

[Top_Massage]

Alright ... moving forward .. we are now standing at crucial level of 28000 (+ / - 50 points) in banknifty and 11050 approx in nifty ....

Both indices are standing at make or break level .... of course you all know what to do next ... best of luck

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Point to be noted ..... A very old rule of trading. Usually, whenever the index tries to approach or surpass or breach the crucial level (be it support or resistance), it normally fails in the very first attempt on reaching near the crucial spot or above it. In this case, we are highlighting 28000 to 28050 levels .... There is usually a minor retracement during the very first attempt every time such thing happens .... but the catch is that these retracements don't last for too long and have short span. However, things are completely different during second attempt which may come the same day or next day or so ... Traders who identify this can always take advantage by taking intraday trades.

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Easy as you like .... quick trade done! Consistency is what matters here.


Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Alright, moving forward .... we are now standing at a crucial point ... i.e. 28000 (+ / - 50 points) in Banknifty and 11050 (+ / - 25 points) in Nifty ....

CHOOSE VERY VERY WISELY THIS TIME ..... Just to give a hint ... It's not necessary that things will keep repeating in same pattern each and every time .... Confirm the trend TWICE before choosing direction ... If you are still in doubt, then might as well wait or skip taking trade for a day or two ... In trading business, it's all about choosing direction ... if you could master that, then you will be rich as anything ... it all depends on what you do .. Nobody will help you in this trading world ... Best of luck guys

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Point to be noted ... whenever index is standing at a crucial level (like it is standing currently) ... traders tend to look for different indicators in order to gauge next move ...

Here, we are looking at Advance Decline Ratio (at 11:58 AM) ... However, it is offering no such clear direction or indication as of now ... it has definitely improved since morning ... but it's almost 50:50 scenario

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

OK folks ... Enjoy weekend ... will meet again .... bye

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Quick trade done .... after defending 28000 (+ / - 50 points) for quite some time, Banknifty index had to sprint at least once above this same level ..... Meanwhile, zerodha app has changed the user interface (with smart looking dark theme) ...

Moving forward now, let's see if there is consolidation between 28000 and 28500 range or if we could break the shackles either side in upcoming sessions .... watch closely

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Well, so far it looks like consolidation between 28000 and 28500 .... this will do nothing but result in melting of premiums of banknifty options

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Interesting ... nifty is outperforming Banknifty ... seeing this after quite a few days ....

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

We are approaching crucial zone of 28500 (+ / - 50 points) ... let's see if bulls can break shackles or not ... of course you know what to do ... good luck ...

Disclaimer: This forum is meant for educational purposes only.