Hello traders,
Please read all the previous analysis, that will give a better clarity in this.
1. We have seen a correction from 38830 level which was 61.8% retracement level of two month swing. Now IFFFFF banknifty somehow reaches near right shoulder vertex. Or near 37550-600 level. That will be a very good RISK to REWARD ratio trade. A call of next expiry can be taken that too far otm if u want to minimise your loss, which is my priority. Sl would be 37300. Targets are open, if it happens the same way.
2. Or another way to trade this is , if in case price approaches near above said level then buy 37200 put of this expiry and 37500 call of next expiry. You will surely exit in huge profits. That is a hedge trade. Call should be exited if banknifty price breaks down below blue parallel channel support line.
3. In case price doesn't reaches 37500-600, analysis will be posted. Or let's say if market tomorrow closes near 37700-800. Then we will take good position.
Please do note, patience is the key to success in intraday. Ek din mein 10 trade nahi but 10 din mein ek trade lo with good setup and good risk to reward ratio. Do follow and do see my twitter channel linked. Thanks
Please read all the previous analysis, that will give a better clarity in this.
1. We have seen a correction from 38830 level which was 61.8% retracement level of two month swing. Now IFFFFF banknifty somehow reaches near right shoulder vertex. Or near 37550-600 level. That will be a very good RISK to REWARD ratio trade. A call of next expiry can be taken that too far otm if u want to minimise your loss, which is my priority. Sl would be 37300. Targets are open, if it happens the same way.
2. Or another way to trade this is , if in case price approaches near above said level then buy 37200 put of this expiry and 37500 call of next expiry. You will surely exit in huge profits. That is a hedge trade. Call should be exited if banknifty price breaks down below blue parallel channel support line.
3. In case price doesn't reaches 37500-600, analysis will be posted. Or let's say if market tomorrow closes near 37700-800. Then we will take good position.
Please do note, patience is the key to success in intraday. Ek din mein 10 trade nahi but 10 din mein ek trade lo with good setup and good risk to reward ratio. Do follow and do see my twitter channel linked. Thanks
