36791.45 is the level. 15 min closing below it will cause downside momentum. Keep eye on the upper side trend line and short calls above that strike . . See Bank nifty is trading in a range only. The majority of the time expiry makes a Doji candle giving money to option sellers only. Down - UP -Down. or Up - Down -Up.
how to get confirmation from your MA 21 high and low or any other indicator? please explain
vivekz_142
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@renukasir, Actually I gave confirmation here that if 15 min candle closes below 36791.45 then downside momentum will come(11:15 am candle). I use fractals for little confirmation which is already shown in the chart. See don't rely on indicators much. If you want to rely on anything then it should be price action, psychology, and patterns. Here this trade was possible mainly because of the pattern - head and shoulders or trendline breakdown or the level was already tested 4 times hence if comes for 5th then definitely the probability of going down increases. Check IV of options. Think about how the option seller will make money? think where the majority of SLs will get hit.