BANKNIFTY TRADING VIEW FOR THE WEEK STARTING 22/7/2024
Aktualisiert
SHORT TERM VIEW
BankNifty one hour chart broke the trend line and seems to be on sell mode. If it breaks below 52190, the next level would be 52000. Only when it breaks, Either we can buy at the money put option(can get 50 to 100 points) or sell futures. We should close our position as soon as get the target. How we can trade is given below.
The above views will get negated if one hour candle closes above 52525.
VIEW FOR THE WEEK STARTING 22/7/24.
If Bank Nifty closes below 51600 then it will turn bearish and may reach a level of 50400 in the coming days.
HOW TO TRADE ON SHORT TERM VIEW :
A. Buy at the money put option when bank nifty spot breaks 52190.
once the PE is bought then either Target is hit or reverses from below.
b. Buy one more lot of PE when the banknifty reaches 52290. similarly one more lot @52390 and one more at 52490.
Book profit when we get 50 or 100 points from the average price.
OR
WHEN THE ONE HOUR CANDLE CLOSES ABOVE 52525, then change your position to Buy.
BankNifty one hour chart broke the trend line and seems to be on sell mode. If it breaks below 52190, the next level would be 52000. Only when it breaks, Either we can buy at the money put option(can get 50 to 100 points) or sell futures. We should close our position as soon as get the target. How we can trade is given below.
The above views will get negated if one hour candle closes above 52525.
VIEW FOR THE WEEK STARTING 22/7/24.
If Bank Nifty closes below 51600 then it will turn bearish and may reach a level of 50400 in the coming days.
HOW TO TRADE ON SHORT TERM VIEW :
A. Buy at the money put option when bank nifty spot breaks 52190.
once the PE is bought then either Target is hit or reverses from below.
b. Buy one more lot of PE when the banknifty reaches 52290. similarly one more lot @52390 and one more at 52490.
Book profit when we get 50 or 100 points from the average price.
OR
WHEN THE ONE HOUR CANDLE CLOSES ABOVE 52525, then change your position to Buy.
Anmerkung
SEE MY VIEWS ON NIFTY. SAME WILL HOLD GOOD FOR BANKNIFTY ALSO.BUY ABOVE 52450 AND SELL BELOW 51850 BOOK PROFIT AT REGULAR INTERVALS AND MOVE WITH TRAILING STOP LOSS.
Anmerkung
On daily chart Bank Nifty is one the verge of breaking the trendline to give a sell signal. On 1 hr time frame it is on sell mode till it closes above 52300.
Todays candle is bearish engulfing candle. Tomorrow if it breaks 51750 then it will become bearish.
Anmerkung
In daily time frame Bank Nifty Broke my trend line today and in bearish mode. Do not short sell till it breaches todays low.(50780).In one hour time frame it is in sell mode till it closes above 51720.
Trade Safely and Wisely.
Anmerkung
Bearish mode continues. Keep booking profit at regular intervals. Analysed by Ramakrishnan
I an not a SEBI registered analyst.
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