BNF looks like trying to form a flag pattern. will it break out or break-down from there or will it consolidate - I don't know
But - if its a flag formation higher time frame - inside a bar in the daily time frame, on the lower side in a channel . one thing can be safely concluded. play for long with channel break as a stop loss
with US DOW futures showed some strength yesterday, it seems a GAP UP opening but I won't be surprised if this GAP UP gets bought into.
My trade plan for this expiry would buy CE when BNF spot trading near support zone and SL exit them if it breaks support zone.
The CE that I would buy will keep it till expiry or channel touch on the upper side
There can be many more option strategies here but keeping it simple
Thanks Happy Trading MSK
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Taken long positions for expiry :)
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What a tug of war between bears and bulls
There is a negative OI change in 35100 CE and below, so it looks like bulls are going to win this war
Fingers crossed
For Risky traders - expect a GAP UP opening ... please note , suggestion is only for risky traders as whole world can change overnight .. Dollar index that is already rising can give a breakout on up side or whatever...
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I hope you guys enjoying the run
Usually, when there is a double doji , the breakout is equal to size of doji .
with that logic , at 36500 you may want to book some profits
Trade closed: target reached
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36400 - I would be booking most of my profits here as somewhere you need to book them
Though, the texture of BNF is still quite bullish - I still see GAP UP opening for tomorrow as well due to the texture - Risky traders can take a few OTM and few ATM CE options at the end of the day - Pls note just for risky traders
I hope a few of you would have made money looking at this idea