Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
Got the answer today ... 
Good I'm not trading last few days.. In any case BankNifty is not giving that opportunity that it used to give some months/years ago. All Banks used to move in the same direction as part of BankNifty Index, nowadays they are split into PSU v/s Private banks.
Good I'm not trading last few days.. In any case BankNifty is not giving that opportunity that it used to give some months/years ago. All Banks used to move in the same direction as part of BankNifty Index, nowadays they are split into PSU v/s Private banks.
In short .... Bulls aur bears dono kare prahaar ... option writers kaa haal behaal ... ha ha ha ...
Got the answer today ...
Good I'm not trading last few days.. In any case BankNifty is not giving that opportunity that it used to give some months/years ago. All Banks used to move in the same direction as part of BankNifty Index, nowadays they are split into PSU v/s Private banks.
Good I'm not trading last few days.. In any case BankNifty is not giving that opportunity that it used to give some months/years ago. All Banks used to move in the same direction as part of BankNifty Index, nowadays they are split into PSU v/s Private banks.
Absolutely true ... I also have sympathy for option writers. Banknifty index has been showing some fierce movements both ways (not just one) since last wednesday. First we got to see correction of almost 1000 points (couple of weeks ago) and then some sprinting (since last thursday) and now again some correction. Many writers must have written off PUTS heavily for this week. Things completely changed for them today.
In short .... Bulls aur bears dono kare prahaar ... option writers kaa haal behaal ... ha ha ha ...
In short .... Bulls aur bears dono kare prahaar ... option writers kaa haal behaal ... ha ha ha ...
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Well ... Bulls have somehow protected 25000 mark in Banknifty as of now. I believe that 25000 level in BN and 10200 level in nifty are quite crucial levels. If they are broken too, then one shall re-calculate next support levels. Though, there is a possibility of upward retracement too. I will have to wait and decide if I should buy few index CEs by today itself or in near future.
Two possibilities:-
1. Either corrective wave 'A' has almost completed its journey. Hence, we may witness formation of wave 'B' and thus, some relief for bulls via upward retracement.
2. There is a slight chance that we are still into impulsive wave '5'. If true, then most probably we are done with second inner wave (i.e. ii) of impulsive wave '5'. Inner wave (iii) should follow soon (bringing respite to bulls).
Further, once again VIX has a good chance of cooling off by this week. If it has to rise above current level, then we shall require some dramatic downward movement. Lets see.
Two possibilities:-
1. Either corrective wave 'A' has almost completed its journey. Hence, we may witness formation of wave 'B' and thus, some relief for bulls via upward retracement.
2. There is a slight chance that we are still into impulsive wave '5'. If true, then most probably we are done with second inner wave (i.e. ii) of impulsive wave '5'. Inner wave (iii) should follow soon (bringing respite to bulls).
Further, once again VIX has a good chance of cooling off by this week. If it has to rise above current level, then we shall require some dramatic downward movement. Lets see.
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