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A second day continuation of a bear trend following a consolidation phase can be just a move to fill the gaps, however Expiry days are different generally, It is a tug of war with ruthless search for premium decay be it any greeks .
We make the above three possibilities based on type of opening.
Banknifty has shown resilience to FII selling, RBI announcement today seems to have altered the nature of market. However not much has changed we presume three possibilities around which a probable expiry day plan can be traced.
A strangle of 33100CE and 32800 PE trading around 373 a pair seems a good bet to ride tomorrow .
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If the bitcoin manages to close below the black line marked on 15 M time frame then its a great R:R entry point for short to take profit at the marked red line.
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When the stock behaves in a peculiar manner inconsistent with the trend and volatile range, it is thought be cooking something inside of it. And i see a very good entry point of shorting ICICI bank when the price reaches red line and rides all the way to the down with keeping
Banknifty is following a downward trajectory where the bias was clearly bearish in nature out of the data on wednesday. We expect it to expire within the above modest range considering three possibilities .