re: Day trading Nifty & Banknifty Futures
I'm also expecting down movement on Monday, though not holding any position today will sell ce on monday due to premium built up.
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No FII r shorting in F&O. When new top comes on dream (not supported by eco)= so fresh new investor join in Buy - may at 6300 level of Nifty,- so they will give first sell of Imp holding ie. DISTRIBUTION . They will take money to their country - for gift & profit. So political result out will be big wash sell by them. Also they must be ready for tapering to sit on 50% cash.
This reflection can easily seen by yesterday's after opening - distribution on nifty.
Just see ST's analysis- he strongly suggest a nifty down bias upto 5800. Though little upmove possible , but achieving 6100 will be high probability.
Caution - political Modi trap will be played by FII - next week
No FII r shorting in F&O. When new top comes on dream (not supported by eco)= so fresh new investor join in Buy - may at 6300 level of Nifty,- so they will give first sell of Imp holding ie. DISTRIBUTION . They will take money to their country - for gift & profit. So political result out will be big wash sell by them. Also they must be ready for tapering to sit on 50% cash.
This reflection can easily seen by yesterday's after opening - distribution on nifty.
Just see ST's analysis- he strongly suggest a nifty down bias upto 5800. Though little upmove possible , but achieving 6100 will be high probability.
Caution - political Modi trap will be played by FII - next week