UNITED STATES OF BANKNIFTY

Top_Massage

Top_Massage

Well-Known Member
#102
#102
Top_Massage said:
BANKNIFTY MASTER PLAN from 4th Feb 2019 onward:

OK guys .... BankNifty index is currently standing at a very interesting and crucial point. It's like somebody got to give up for other to succeed and without any further delay. Let's just keep it very simple while we formulate our strategy for near future.

-- To begin with, let me tell you the three most crucial points in BankNifty index for near future i.e. 27500, 27000 & 26500. This is the broader range (26500 to 27500) within which BankNifty has been moving in a large zig zag manner since last several days.

-- These large zig zag movements have done nothing but tested patience of intraday traders to the very extreme.

-- Without any doubt, like I mentioned in my previous master plan, the level of 27000 is the MOST CRUCIAL LEVEL. It is the ultimate make or break level. It's the TRIGGER POINT.

-- To put it precisely, staying above and trading above 27000 for longer period will open doors for immediate target of 27200 to 27250. And if the bulls manage to hold 27250 also, then surely we can climb till 27500 once again.

-- Let's not even discuss anything beyond 27500. Let the index first make up its mind to break this broader range. Then only we can analyse further levels.

-- Therefore, first resistance would be range of 27200 to 27250. But the BIGGEST RESISTANCE for upcoming sessions would be range of 27500 to 27550.

-- Now, let's discuss about levels below 27000 spot. If bears manage to break below, stay below and trade below 27000 for long enough, then it will open gates for 26750 and finally, it will try to reach 26500 after breaking further below 26750 in near future.

-- Let's not even discuss anything below 26500 because index has not made its mind yet. Let it break this monotonous and obvious broad range.

-- Therefore, first level of support would be 26750 (+ / - 50 points) and BIG SUPPORT for upcoming sessions would be 26500.

-- Choose wisely guys .... Thursday (7th Feb) is RBI Policy day. It may give us another big opportunity for making big money like we did on Budget day. Hopefully, BankNifty will be able to get out of this monotonous broader range of 26500 to 27500 in near future.

Thanks a lot ... Good luck to all ... Hopefully, all of you will make good money.

Disclaimer: This forum is meant for educational purpose ONLY.
Click to expand...
Follow the above levels with discipline. Wait for the opportunity. Confirm the trend before taking a trade. Choose wisely ..... Good luck to all.

Disclaimer: This forum is meant for educational purpose ONLY.
 
Top_Massage

Top_Massage

Well-Known Member
#103
#103
OK guys .... Bank nifty did give few chances to make money but overall, I can understand that premium erosion made it really tough to make any money today.

Don't worry, we need to show utmost patience here. Hopefully, we will catch a big opportunity tomorrow. Will meet again tomorrow .... Best wishes ....


Disclaimer: This forum is meant for educational purpose ONLY.
 
Top_Massage

Top_Massage

Well-Known Member
#107
#107
Guys ... So far no meaningful opportunity in Banknifty ... It's all premium erosion both sides and nothing else .... Banknifty is just swinging between 27300 to 27400 ....

Disclaimer: This forum is meant for educational purpose ONLY.
 
Top_Massage

Top_Massage

Well-Known Member
#109
#109
OK guys ... It was a tough day. There was hardly any opportunity in weekly Banknifty options. I tried hard but in the end, I had to face intraday losses due to heavy premium erosion. Optionwriters kept the Banknifty index in a very tight range (27300 to 27400).

But it's fine. It's part of our trading career. Just like we enjoy making profits, we should be able to bear losses too.

Anyway, for tomorrow's RBI event (at 11:45 AM), let's just focus on only one DECIDING level i.e. 27500 (+ / - 50 points). Now, this shall be make or break level not just for tomorrow but for near future too.

Above it, we go up .... Below it, we may go down.

Let's see guys. Hope you make good money tomorrow. Enjoy ..... Will meet tomorrow ... Best wishes ... Thanks ...


Disclaimer: This forum is meant for educational purpose ONLY.
 
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