Banknifty is bearish but only short if it comes back to 21 ema
- Sit on your hands kind of spot for now. Wait for the trade to come to you
- If anyone sold puts below 39000, i would keep those on a very tight stop as in a falling market, even levels of -3 ATR can be touched
Best advice ever - Cut your position size by half.
* These are merely ideas and not a recommendation to take a trade
* Trade small size & keep a wide stop loss (atleast 1.5 ATR). Dont fall into the trap of tight stop losses & big positions
* Be patient when in the trade - the stock doesnt know you or care about your feelings.
* Be ruthless with cutting trades that hit your stop. Also being flat can be great - you dont have to be in trade always.
* Be patient & wait for trades to come to you. Do not chase stocks - that only ends in disaster.
* STOP buying breakouts and SHORTING breakdowns. The big money wants you to do that and take away your cash