Nifty 50
Yesterday, I have some clues that Market got some resistance wall at 7850 levels. and made short at Bank Nifty.
Market closed the at the low point of the day. Shorting at this point is very risky. 7725 level.
The predetermined point for short will be around 7788- 7800 at spot, and it is nearly 1% from the low of the day. If market bounce 1%, Is it wise to short?, I think the risk reward will not favor and also if market move up another 30 points, it became highly bullish.
So what can I do... can I think long.. of course it seems good, but where I have to buy..
Predetermined point is around 7661, if that points comes, more panic will come and whatever my stop will be hit....
Market will show the strength in long side then only I can go long... for that, a gap up is needed and a five minute low, one hour low and previous day long, should be hold. and I have to gamble only 20 points in the long side... Otherwise I have to wait for Power Play hours to settle.
So I decided, I have to look for long at 1.30 pm, w.r.t above condition.
Bank Nifty
I have to decided around 1 or 1.30 pm , If the open and low is same( up to 1 pm), it will be advantage for long.
If its hold previous day low. 16787 in spot or future. think about long...
Otherwise be on sideline.. Watch bulls vs bear fight..
Happy Trading Zen Way.
Yesterday, I have some clues that Market got some resistance wall at 7850 levels. and made short at Bank Nifty.
Market closed the at the low point of the day. Shorting at this point is very risky. 7725 level.
The predetermined point for short will be around 7788- 7800 at spot, and it is nearly 1% from the low of the day. If market bounce 1%, Is it wise to short?, I think the risk reward will not favor and also if market move up another 30 points, it became highly bullish.
So what can I do... can I think long.. of course it seems good, but where I have to buy..
Predetermined point is around 7661, if that points comes, more panic will come and whatever my stop will be hit....
Market will show the strength in long side then only I can go long... for that, a gap up is needed and a five minute low, one hour low and previous day long, should be hold. and I have to gamble only 20 points in the long side... Otherwise I have to wait for Power Play hours to settle.
So I decided, I have to look for long at 1.30 pm, w.r.t above condition.
Bank Nifty
I have to decided around 1 or 1.30 pm , If the open and low is same( up to 1 pm), it will be advantage for long.
If its hold previous day low. 16787 in spot or future. think about long...
Otherwise be on sideline.. Watch bulls vs bear fight..
Happy Trading Zen Way.
No comments:
Post a Comment