BankNifty Intraday view for 06-12-2021
Actualizado
Good morning all,
Friday: Over Thursday and Friday, market again saw itself in a 800 points range which is the current ATR too. So, no surprises there. However it's movement does make a nice structure for us to trade.
Today: Today's movement will again define the week. The current structure suggests a 'Long' but only after 37000. A lot of noise between here and that point. On the 'Short' side, we continue to maintain the same levels from last week. The non-tradable range however is of 1500 points, which is 2XATR and may keep the market in that range.
The view that I am expressing is valid NOT ONLY for today but till the time index breaks the range. So keep this mind and trade accordingly. Be careful if you are going to buy options as theta decay will make you lose money.
So;
Long side view:
Buy above 37000
Target 1 zone 37200 - 37260
TSL above this
Target 2 37500
(Long SL - 36850)
---------------
Short side view:
Sell below 35500
Target 1 - 35310
TSL below this
Target 2 - 35000
(Short SL - 35700)
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Friday: Over Thursday and Friday, market again saw itself in a 800 points range which is the current ATR too. So, no surprises there. However it's movement does make a nice structure for us to trade.
Today: Today's movement will again define the week. The current structure suggests a 'Long' but only after 37000. A lot of noise between here and that point. On the 'Short' side, we continue to maintain the same levels from last week. The non-tradable range however is of 1500 points, which is 2XATR and may keep the market in that range.
The view that I am expressing is valid NOT ONLY for today but till the time index breaks the range. So keep this mind and trade accordingly. Be careful if you are going to buy options as theta decay will make you lose money.
So;
Long side view:
Buy above 37000
Target 1 zone 37200 - 37260
TSL above this
Target 2 37500
(Long SL - 36850)
---------------
Short side view:
Sell below 35500
Target 1 - 35310
TSL below this
Target 2 - 35000
(Short SL - 35700)
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Operación cerrada: objetivo alcanzado
Long Target 1 achieved
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